Oil Service sector is going to get squeezed on this large drop in oil prices. E&P corps. are already highlighting lower drill costs as margins have been severely cut.
Upside down balance sheet NASV will have to compete with bids on jobs that meet E&P AFEs, otherwise will be forced to cut back. Servicing high debt is near impossible at this point.
$80 oil will kill NASV, companies with strong balance sheets that will endure this pressure from Saudi, Iraq, Iran, and UAE pumping under cut oil into the global markets, will outbid lower and consolidate the competition.