Oil slump hits Houston hard and fast

With oil prices down 50 percent since last summer, energy companies have rapidly begun to cut spending and jobs, including in Houston. Here’s a look at some of the cutbacks key oil and gas players have announced thus far.

Rig counts

Drilling and production rigs saw their biggest U.S. and Texas declines since the 1980s in the week that ended Jan. 30, according to Baker Hughes rig counts.

7.7% How much active Texas rigs declined last week, from 7,530 to 695

5.5% How much active U.S. rigs fell in…