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Joe Biden called reporter that asked question about Hunter a " One Horse Pony" . Diamondback buys 2 Permian producers.

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What the heck is a One Horse Pony ?  Anyone know ?


The great shale consolidation of 2020 / 2021 continues.

Only half over at this point.

On their last earnings call Diamondback said they had enough critical mass to survive and prosper in the shale oil Industry.  Then just bought two Permian properties including QEP and a private firm owned by Blackrock. .  They are up to 270K acres.   Not enough.  

Consolidation will continue.  Even Continental Oil's Harold Hamm is interested in a merger.  

Don't listen to the negativity concerning U.S. shale industry. Shale will thrive at $50 WTI once the consolidation is complete.

Also, don't listen to the Investment Banks projecting $65 Brent in 2021.  They have an agenda. 

Remember pre-pandemic where oil struggled to break $60 ?  Now it will struggle to break $50. Notice now when oil nears $50  (1) U.S. shale rig count and production ramps and (2) OPEC members increase production.   The new "cap" on oil price will be approx $50 WTI AND $50 to $55 for Brent. 

Edited by Roch
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