Union Drilling (UDRL)

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Increase in Administrative and General Expenses Lead to 40% Loss in Earnings Union Drilling added two new rigs in their Appalachia area of operation in the eastern United States in order to replace older, idled rigs. New Rig Increases Expenses Union's expenses increase as new rig is introduced to replace older, aging rigs in Appalachia resulting in a 36% decrease in earnings. Global Financial Crisis Decreases Demand for Oil and Natural Gas As the financial crisis hit, credit lines strained and demand for oil and natural gas decreased resulting in a 25% loss in earnings. [1]

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