By Adam Wilmoth Energy Editor awilmoth@oklahoman.comOil and natural gas companies have made the most of the two-year downturn, using the slowdown to focus their efforts and improve drilling processes. As a result, many say they can be profitable at prices much lower than they were two years ago, an important development when oil has been stuck between $40 and $50 a barrel for much of the past five months. "It leads to a situation where we're making better economics today than when oil was at $80," Jason Pigott, Chesapeake Energy Corp.'s executive vice president of operations and technical services, said of the technological gains at the company's analyst day last week. Some of the savings are temporary as oil field services companies have cut their costs and profit margins because of low demand and a desire to stay in business.Read more on NewsOK.com