With Whiting filing for bankruptcy today, we are hoping to be able to scoop up some prime Bakken assets. We were already considering acquiring them, and now they have an even bigger target on their back. Fingers crossed!
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Buy at the low? Absurd. Leadership is not prepared nor do they have the courage to make an acquisition at market lows. How is buying Burlington for $35.6 billion with a resulting $31.8 billion in losses acceptable? Oh, we bought at a market high. How visionary. Please don’t do that again. Please! But that gave us DH and that resulted in HS so it’s all good y’all.
Bakken assets would be the worst assets to acquire out of bankruptcy. With the excessive supply of oil , oil companies needed to be able to survive in a $30 oil world over extended periods of time. Breakeven costs in the Bakken are way too high
Yeah, then we have redundancy and layoffs
My thoughts exactly. Let them restructure debt, then we strike.