OTCPK:WSRLF - Post by User
Post by
farml1234on Apr 04, 2015 8:17pm
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Post# 23597698
Hit the nail on the head
Hit the nail on the head
Alice in Wonderland World crude production has gone nowhere in the past 10 years, except for US shales, which were a kind of hothouse flower fertilized with cheap credit. The Major's production has been failing--even to the extent that they have been borrowing to pay dividends while reducing their ca-ex. They haven't been finding anything anyway. Only Irag had much prospect of increasing conventional crude production--an everyone was looking at Iraq as the potential savior. So make me laugh. Everyone who couldn't increase their output at $100-$110 brent prices will now happily boost output at $65 to $75. Hard to believe-- They all msut have been lying to us for lo these past 10 years!!! But, coming back to earth, what is happening to the liquids production of XOM, CVX, ENI, Total, or RDS????(I mean besides getting a bigger share of production sharing agreements because of lower prices). It is down and going down. Anybody know what is going on with "Cashisgone" Kashagan with $50 crude prices. Only new supergiant field in the last decade. But, I guess if I was trying to get my loans extended and pump my stock price I would be telling everyone how $65 to $75 would be wonderful. Just don't remind them that we were in major cash-flow deficit at $100 six months ago. How soon does the happy pill wear-off? JMHO