With the height of the initial Marcellus Shale bonanza several years out and gas prices remaining low, oil-and-gas-related title work has dropped off significantly, leaving some firms and companies facing cutbacks, furloughs and layoffs.
Several attorneys who work in the oil and gas arena said gas prices, which have remained under $3 per gallon for nearly a year, have led some of the smaller shale-related boutique firms cutting back their title-related work, and oil-and-gas-related exploration companies to slash their legal staffs as well.
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