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re: Oil Field Rumblings

Posted on 11/10/16 at 4:02 pm to
Posted by AndyCBR
Baton Rouge, LA
Member since Nov 2012
7699 posts
Posted on 11/10/16 at 4:02 pm to
quote:

Can't imagine new drilling with prices per barrel so low. For your sake, I hope so.




Ex oilfield here. While exploration isn't done in a vacuum, the price of oil doesn't necessarily drive the exploration side. They have to drill in a certain time frame to retain a lease regardless of the current price. Granted, if the price is so low they don't have any capital then it's a problem.

A lot of times they will drill and cap off and come back later to complete, produce, or set a platform.
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