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re: Oil hit $21 and has momentarily stabilized at 21-22. FoxBiz: Could go to $0
Posted on 3/19/20 at 8:33 am to lostinbr
Posted on 3/19/20 at 8:33 am to lostinbr
The difference is this time it will work if they can hold out for a yr or so. We will see a lot of bankruptcies soon, shale has been battered and on life support except for a handful of companies.
2
Posted on 3/19/20 at 8:54 am to GREENHEAD22
Maybe, but OPEC isn’t much of a cartel if Saudi Arabia is the only member left standing when the dust clears.
Posted on 3/19/20 at 8:58 am to GREENHEAD22
quote:
The difference is this time it will work if they can hold out for a yr or so. We will see a lot of bankruptcies soon, shale has been battered and on life support except for a handful of companies.
Yeah, but the infrastructure, knowledge of fields and equipment are there and can be restarted once prices come back up. Only way would be for Aramco to start picking up these companies at a discount.
Posted on 3/19/20 at 9:05 am to Tiger Ree
quote:
We are always surprised that in Louisiana where all the oil comes from is so expensive for gas.
what?
Posted on 3/19/20 at 9:26 am to Tiger Ree
quote:
We are always surprised that in Louisiana where all the oil comes from is so expensive for gas.
Louisiana ain’t where all the oil comes from.
Posted on 3/19/20 at 9:33 am to GeauxtigersMs36
quote:
Texas Oklahoma Alaska too.
Add Pennsylvania and Ohio. Lots of fracking activity.
Posted on 3/19/20 at 9:36 am to MikeD
Banks will end up owning these assets and as they really don't want to manage them and won't be able to continue managing active drilling programs the production will decline rapidly. Some of these shale oil wells are 65% plus first year decline. Throw in sub $40 oil which looks to be here for quite a while even if we only stay in the teens or 20's for a few months and there is no economic incentive to drill any shale oil wells. The best parts of the Bakken and Eagleford are heavily drilled up leaving only some of the Permian left. The US industry is going back to a few majors and some really small private independents drilling small conventional wells. The biggest winners if they can survive the next 6-8 months may be US natural gas drillers as the huge drops in associated oil natural gas production will rebalance the gas markets.
Posted on 3/19/20 at 9:40 am to lostinbr
I wouldn't be surprised to see the majors pick a lot of these companies up and sit on the asset's. EOR and the longterm is what they are looking at. I think it will end up with the majors owning most of the shale acreage and one or two large independent consortiums.
Posted on 4/20/20 at 11:45 am to cokebottleag
Well. Doesn't seem that crazy now, does it?
This post was edited on 4/20/20 at 11:54 am
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