RE:RE:We crossed the Rubicon today folks1000% (if that's at all possible) agree. Give this and a few others in the sector a few quarters of earnings to report and we are there or higher.
This is a new world for O&G. We won't get away from oil for the foreseeable future but there is much push for green and renewable which means way less support from the financial level.
This will mean that WCP and the like will have to learn how to better manage balance sheets and debt, how to remain profitable in times of oil + $80 as well as at oil at $40.
Like it or not 2020 was a (great?) reset for the firms that have made it through. They are wiser, stronger, and more in control of their long term outlook and ultimately, shareholder value. This will benefit longs for some years to come.