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James Regan

The Next Big Thing

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(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 by James Regan

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Excellent and well documented article indeedūüĎć

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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.

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$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. 

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