That capital isn’t going to destroy itself! Can I rescind my 2 months of severance resignation offer??
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As of May 1st 64% of our wells are shut-in so it's great that it is now over $30 but $30 *no production is
is stil $0.00. If demand does not go up no one should be drilling!!!!!
Yes in primary production you do but remember there's secondary and tertiary as well. All shale plays are over played unless oil is high. Conventional water floods have a low break even and will keep the company afloat. Hope you are on the right ship.
@uew+14YIwFo - Peak oil and market value aren’t the same thing. Peak oil is real and we’ve merely become more efficient at how we extract oil, even shale. The difference being that shale wells will go into decline significantly faster than traditional well drilling of the 20th century, which means you have to drill twice as much to make up for the production loss. The only thing that will drive oil prices higher is a war, and I just don’t see that happening soon. 👍🏻
Oxy needs minimum of $45/bbl to tread water, $50 to swim
Dead company walking
I've been hearing since the 1990s that oil was dead and look its 2020. Oil makes the world go.
Lol. Where is the logic in that? There is no demand for oil anywhere in the world but because crude climbs less than $5 in week, we’re somehow in a commodity rally? Lol. Oil and gas will be dead for a long time, think 1980’s if anyone is old enough to remember back that far. 👍🏻
yes.. before they accept it you can revoke it