This is an old saying from Wall Street.
In a bull market, one with high oil prices, one can make money through prudent development and growth.
In a bear market, one with low oil prices, one can make money through cutting down on new drills, and through utilizing what they learned during the good years. Also by buying out distressed assets of the less fortunate.
There is a group that will lose money no matter what. The pigs.
The pigs are not willing to look at the truth. They say a well will make 1 million bbls when it will clearly only make 350,000. They will say a new well costs only $6.2 million when then know it will cost $8.0 million. They will tell please their managers when it means neglecting their subordinates. They will nod their heads instead of standing up for what is right. They will look at their paycheck, bonus, and stock grants, and believe they are the best thing ever.
We have been lead by pigs. We have become pigs. Don't be pigs.