"New U.S. Oil And Gas Well November Permits Tumble Nearly 40 Percent"

"Plunging oil prices sparked a drop of almost 40 percent in new well permits issued across the United States in November, in a sudden pause in the growth of the U.S. shale oil and gas boom that started around 2007.

Data provided exclusively to Reuters on Tuesday by industry data firm Drilling Info Inc showed 4,520 new well permits were approved last month, down from 7,227 in October.

The pullback was a 'very quick response' to U.S. crude prices, which settled on Tuesday at $66.88 CLc1, said Allen Gilmer, chief executive officer of Drilling Info."

Kristen Hays reports for Reuters December 2, 2014.

Source: Reuters, 12/03/2014