Bi-anual review of shale bank debt/bonds in April. I believe the banks and bondholders will not be so tolerant this time around.

[BLA + 1,666]

This is beyond whatever Saudis or Russia are doing.  It's about the virus demand destruction. 

Some will try to reorganize, try to sell, etc.

Bottom line the portion of the Shale industry that have been on life support , the walking dead will be taken out in one manner or another.  

It's a long process.  It will play out over next year to 18 months. 

Saudi production growth and market share war just throwing gasoline on the fire.  MBS threats and going after any oil entity or sovereign is nothing short of international extortion.  

MBS has no good options.  Be glad we're not Saudi Arabia. His reckless scatterbrain decisions will be remembered.  His reign as Crown Prince are probably going to come to an end. 

After consolidation U.S. Shale industry will come out stronger then ever. (With fewer stronger players)

Remember even though many shale companies will go away THE RESERVES WILL NOT.  The strong producers will purchase the RESERVES at discounted prices. 

This too will pass.  

 

 

Edited March 12, 2020 by BLA

[surrept33 + 609]

Trump would also refuse to sign such legislation. Just look at his response to the Khashoggi murder.

https://www.washingtonpost.com/opinions/global-opinions/congress-wants-accountability-for-khashoggi-trump-breaks-the-law-to-stop-them/2020/03/08/38369b5c-5f17-11ea-b29b-9db42f7803a7_story.html

[Marcin2 + 724]

I really like creative journalism, looking at issues from unconventional yet interesting points of view. This is the type of thinking the free and inquisitive press should be about in the first place.

But my opinion is that turning this unconventional mind exercise into reality is not probable.

The same ballpark would be to consider suing current US President and all his predecessors  back till Bush junior for the gross misappropriation of federal funds for Iraqi invasion in 2003 and subsequent occupation.

The bill is over 2 trillion US dollars together with financing costs.

[Justin Hicks + 162]

Yeah whatever Harold...

Biggest problem here is that every time OPEC made cuts to stabilize the market, here comes shale oil to fill a gap that wasn't there.

US shale exercised absolutely no restraint shouting we're the king, we're in the driver's seat now. Now that the Saudi's have tired, they plan to pump all out as of April 01.

Now Harolds hollering " we need protection because we shot our selves in the foot"  whaa..

US shale production has always been swing production, due to it's very nature of depletion it was never sustainable long term. It's a house of cards built on how many suckers we could get to continue to invest and we knew it.

Now the chickens are coming home to roost, suddenly that view from the back seat looks pretty good doesn't it boys?