Texas: The boom-and-bust oil capital of America

Walker, now co-owner of oilfield services company Frontier Services, learned to keep cash on hand and avoid loading up on debt to pay for equipment.

“I may have to get out in the field and start doing the work myself,” said Walker. “I’m older now. I don’t want to do it, but I will if I have to. I will put a hard hat on and steel-toed boots and do the work. It’s not beneath me.”

Related: Texas could sink into oil-fueled recession

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