Survival mode
Vet and pretty much every oil company in N.A. is quickly moving into survival mode. Cutting dividends or slashing Capex or both to survive this crash in oil prices. How long Opec and Russia can keep this price war going remains to be seen. The Russians are tough people and masters at surviving diversity, while the pampered Suadis not so much. The Suadis need double the oil price of the Russians to keep their boat afloat, so who will yell uncle first? The US has cut their lending rate to 0, but that will not much help the smaller oil producers and drillers if they are unable to access the loans at the current price of oil. As of Fridays closing price for VET at 4.78 the dividend would be 31.6 % ,and will likely be cut again or totally eliminated in a forthcoming anouncement. As previously posted Vet was one of the oil producers with a high probability to survive this downturn, and as the devil hates a coward, I will be a buyer this week and add to my current holdings. You got to believe in something, and believe I will have a nice cold beer. GLTAL