Will only get worse folks. Shale companies have finally met their match-no investor money. Pyramid scheme is effectively over. Permian will see HUGE reduction in rig count In the next 12 months. If any doubt, look at CHK. NP better closely monitor the operators financials well by well to avoid large AR/no pay. Things are getting worse day by day. Not good for the home team
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a moment of silence for pv being gone for 1 year with his sack full. still unemployed, i assume?
let's recap week. Oil up and nearing $58 as of Friday. nr down from $6.82 to $6.19 for the week. Dow up 222 points on Friday. Domestic Rig count trying to hold over 800 rigs but will probably go under 800 by end of month. nr earnings estimate for 4thQ 2019 drops from $.10 cent/share to $.04 cent/share. which is still probably too high.
their boy ss, the golden boy, is going to be in a bind (Fewer rigs AND THEREFORE LOWER pricing)– but remember, he is located in wt and his ultimate boss is in Europe, somewhere ,with no US work permit. CHK trading below $1/share.