RE:US Shale's Message for OPEC:Above $40.we're coming backVery misleading article as they make it sound like every shale driller will just so easily get back to business and begin drilling either new wells or existing wells they already drilled months to year ago. The shale companies that have little to no debt sure they will be able to start pumping existing wells or drill new wells once oil prices rise above 40$ or 50$
Shale producers with loads of debt ( which I can most small shale producers in the US have massive loads of debt ) will NEVER be coming back once the banks / lenders start to call in their loans and begin taking haircuts. No bank or lender will want to lend $ to a management team or company assosicated with a bankruptcy. Hence why the Baker hughs drill count shows now there are under 400 rigs running in states verses 1900 when oil was 100$ + .