on the debt interest rate issueI think the higher rate than any of us expected shows a couple of things.
Ones that had a weak q4 are flucked. There will no debt market available to them. This is most of those currently drilling in the permian.
The hypothesis that permain production is going to fall has been confirmed because there is no money available.
They did what they had to do and it is done. Price of oil has dropped about 6 bucks a barrel in last week so if they went to market today they would not get anything near 8.75 and would likely get sfa
They paid too much but they live to fight another day which will be better than most down there.