Long-term viewIt is not that oil went up today, but that it is staying up in this range $60+ and may
move higher $70 to $80 in coming months.
The longer it stays up the better it is for these companies to generate FFO and pay down debt, maybe drill a few more wells than expected, get the banks and shorters to not have an excuse.
1st quarter good, 2nd quarter better, 3rd quarter on a roll, next winter great.
Many companies are paying down debt like crazy so they don't have to be targets and live within their means which means more free money to drill more if you don't pay borrowing fees and LOC fees.
Start paying even a small dividend can pull in a whole new crowd.
New drilling is more and more efficient, more profits than in the past.