Blackbag99 + 20 TB September 16, 2020 Has the end of shale shutterings signalled tacit agreement that there are no new funds coming to expand shale production. Rig counts may have hit bottom, but that bottom may well be a very long bath! Quote Share this post Link to post Share on other sites
Old-Ruffneck + 1,246 er September 16, 2020 10 minutes ago, Blackbag99 said: Has the end of shale shutterings signalled tacit agreement that there are no new funds coming to expand shale production. Rig counts may have hit bottom, but that bottom may well be a very long bath! The first part of you statement is there is always money for energy if its in demand. Financial Institutions tend to lend "other peoples" money in a risk to make some money, been that way since time began. No need to drill wells when the DUC count is still out of proportion to justify more drilling. I imagine the contract leases are the ones being drilled at present. 1 Quote Share this post Link to post Share on other sites
Blackbag99 + 20 TB September 18, 2020 (edited) Indeed there is money if there is return. Shuttered production has been returned in full. There is clearly no expectation of investment as there is clearly no return. No rigs this week, none next! Forward selling oil got you $27 more last year, forward selling gets you $3 less this year Edited September 18, 2020 by Blackbag99 Quote Share this post Link to post Share on other sites
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