RE:RE:RE:IF In the last huge fall of oil price in early 2016, there were a lot of bankruptcys in the US shale sector, but it hardly slowed them down on development. While Eagle Ford and Bakken did see a drop in drilling and some decline in production back in 2016, the development of the Permian back then continued and production increased in that basin throughout the period of low oil. It may be different this time ... lets hope!! But even if bankruptcys occur, these SOBs continue to drill, even when they must be losing bundles of money on every new well. It defies sense that they do this, but that appears to be the method of operation in the US shale oil industry. Drill to beat h311 and grow production... worry about debt later. But maybe for these companies the debt can no longer be kicked down the road. Maybe this time it will be different and drilling will be curtailed (largely and soon) due to the economics. That would make sense to me.
In the meantime... a lot more pain for Canadian Oil patch investors. If I had any money left I would buy, lol.