GREY:WFREF - Post by User
Comment by
JohnJBondon Dec 08, 2014 12:17pm
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Post# 23206368
RE:RE:RE:RE:RE:The Absolute Lack of Fundamental Legs
RE:RE:RE:RE:RE:The Absolute Lack of Fundamental LegsI don`t follow Trilogy as I consider it to be similar to LRE at several times the cost (I like to buy cheap stocks, and avoid the expensive options).
We are just starting to see the published capex reductions for 2015. Its starting to be clear we will see billions, and probably 10`s of billions in reduced drilling in North America. This will clip US oil production...................we are just months away from supply dropping below demand.
3-6 months from now, US oil production will be less than it is now. A 2% US production cut will trim the 200,000 ish global excess. A 10% US production decline will be a little less than a million boe, or the seasonal max supply excess.
This is going to kick oil prices right up there! Its also going to be just what we needed for North American gas prices while we wait for LNG development to direct excess N..Am gas off shore.