RE:More HUB from iiiI don't agree with HUB on much of this. As stated below, US shale cannot make a quick return, they will have to build up gradually again, nothing they do now in terms of rig count can stop shale output falling for another 6 to 9 months and after that the build up will be very gradual - probably not until 2019 before they return to 2015 iutput highs.
Also, in an oil supply crunch, $100 will be a low price once again, the price will go and stay much higher than $100. By the end of thsi year the price of oil will be above $100. Most of Ithaca's debt will be gone by the end of 2017 - unless they go buying. Additional fields will be brought on every 2 years, Ithaca have said this.
Remember back around 2012 - Ithaca took the audacious decision to buy Valiant and develop GSA simultaneously. Ithaca never lacked vision, drive and ambition, but for the last 3 to 4 years other developments have had to wait until Stella is pumping - Stella is a huge development for a company of Ithaca's size with mutibagging gains for shareholders when/if it starts pumping - let's not forget the real story here.
Doug