REIs in BIG trouble. They have forecasted for a 2016 WTI price of $60
The line of credit will be maxed out by now and they have spent all of their capital on new wells to make up for the short falls.
Anyone interested, inbox me, I've got a soon to be oil company coming out that is in the States and has bought out for pennies on the Dollar asest and leases. First ones to restructure and have no debt and a great buiness plan with $27 WTI and going up to $40 WTI in five years. In CAN dollars it really is $35 dollars and year five $55 dollars. But operations are paid in U.S. dollars and they report in CAN bucks.
So how can a company like RE think they are going to be bought out. I will be taking to the reviever to buy this out on pennies on the dollar as well.
No offence here people, but frigging bail.