Oil patch companies cautious as price pressures build

The latest quarterly results from some key oil patch companies show how pricing pressures are translating into cutbacks or flat growth in their expansion plans this year.

Precision Drilling Corp., for example, is planning $526-million in capital expenditures this year, half the $1.1-billion it budgeted for in 2012.

Read more: http://tinyurl.com/d42hvny