RE:RE:Management must Act now before it
I talked to them and they have a plan. Basically survive the downturn - no issue with Chapter 11. Going to cut CAPEX and the decline rate will concurrently drop. Will grow the company once the market settles down.
Supply in the world is going to drop even if oil price don't decline any further. Just look at the current response from all the oil companies. Huge cut in Capex. Most not looking to grow production in 2015. Many will see production declines and a number will go to Chapter 11. And this is at the current oil price. A furthe drop will accelerate it even faster.
As Saudia said, the world oil market will stabize and it won't take long. Decline rates are just too high with the new shale plays.