Thread regarding Apache Corp. layoffs

The big oil companies were already looking back to deep GoM the blocks have been leased, the surveys have been done, they are processing the data now, and reprocessing using AI. They will start drilling it in a few years, may delay now for X months added to timeline. there are humongous oil pays in the Jurassic layers that have yet to be tapped. And they haven't even started looking at the Cretaceous. The infrastructure (pipelines), offloading terminals are already in place for higher up plays and they can leverage them. The oil business is cyclical and goes through these boom/bust waves. Remember the 80s license plate on an old Chevy truck. "Please Lord help me make it to the next oil boom, I promise I won't piss it away this time.

Shales don’t work for the long haul..I think we’ve figured this out over the last 10 years. Unless companies find new large conventional sources the U.S. oil and gas industry will remain small for the foreseeable future. Not to mention you have a whole slew of people trained only in unconventionals methods and never touched a conventional system. U.S. is going to have to go back to offshore drilling.

It won’t work for any duration of time. Not as long as we preserve our current (and past) economic system. When the demand is back, we simply ramp up production again. Then if more drilling is needed, we start drilling. The rigs, acreage, trucks, and infrastructure don’t vanish. All are easily put back to active status. I know it’s scary. Some companies will go under, but others will replace them. Some people will be unemployed, but there will be jobs elsewhere. Cheap energy=great economies. Oil is a pendulum commodity, so here we are. Supply/demand. Age old truism.