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re: US oil production has increased 300,000 barrels per day in Nov alone
Posted on 11/29/19 at 12:09 pm to cwill
Posted on 11/29/19 at 12:09 pm to cwill
quote:
The shale revolution was oversold - the size, the productivity - none of it meeting the claims. The result is a massive pull back in the equity mkts, capital mkts shut, layoffs and BKs. Just look at the stock performance of the E&P sector over the last year - not a single winner in a record bull market.
I think this thought is generally accepted. Commodity market and it's cyclical nature. Oh well. What's your solution?
1
Posted on 11/29/19 at 3:05 pm to Stingray
quote:
I think this thought is generally accepted.
Not so much in this thread.
quote:
Commodity market and it's cyclical nature.
Prices aren't terrible right now and the losses were also occurring during $100.
ETA: And no more pre-packaged BKs where the company reemerges with restructured debt with the same shite mgmt team or some other replacement laggards that then manage the zombie-co for their own personal benefit as it slides back into Chap 11 (now ruefully referred to within industry as the ole Chap 22).
quote:
What's your solution?
I think it's starting to take place due to outside pressure from investors and banks. More BKs to clean out the shitcos and stop all of the marginal and uneconomic drilling. The fire needs to keep burning.
This post was edited on 11/29/19 at 3:14 pm
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