James Regan + 1,776 April 24, 2020 (edited) Interesting article, being a deepwater advocate I am bias this has been fairly obvious, we should have mixed the two up but we put it all on black and came on in the red, time to put our oilfield hats on and rethink how we the collective move ahead. https://oilprice.com/Energy/Crude-Oil/Shales-Decline-Will-Make-Way-For-The-Next-Big-Thing-in-Oil.html This can't continue as we are, the numbers just don't work, this was a short play in what has always been a long game. We scrapped 10 year old deepwater units costing billions on the back of this fiasco, hey lets start building rigs again, what a mess. Edited April 24, 2020 by James Regan Quote Share this post Link to post Share on other sites
M.S 0 MS April 24, 2020 Excellent and well documented article indeed👍 Quote Share this post Link to post Share on other sites
BillKidd + 139 BK April 24, 2020 Interesting to ponder. Noteworthy is the author's opinion that crude will be nearing $60 in 2021. If that's so, many say shale can make a profit at that price. Quote Share this post Link to post Share on other sites
Ding Ray Chung + 8 April 24, 2020 $60/bbl will probably bring the shut-in wells back online. The Q is: will there be money for new wells and new fracs. Investors need the price for 3-4 years, the lifetime of the well, to make their returns. Quote Share this post Link to post Share on other sites