RE:RE:RE:Crickets
I just want to see us get to free cash flow neutral in the next few years. That will be a clear indication to the market POU is a great place to invest your money if you want oil exposure. Problem is, Oil at or above $90 then yes there will be a ton of free cash flow. Oil below $70, highly unlikely - however, break even is very much possible. Last rig count in North America was ~500. It was close to around 1,500 to 2,000 (I believe) in the highs of 2018 when Oil was ~$75. It's a bit of a double edged sword - can't expect companies to increase production if they don't drill, but if they do ramp up drilling and porduction, what affect would this have on oil prices. Way I see it, the longer rig counts stay in the 400-500 range, the better likelihood we will come roaring back to $70 to $80 oil in a year or two. Vaccines, demand, OPEC etc, not much we can do about that. GLTA