UncertaintyThis is no time to think about increased drilling. The number of oil rigs at work in the world has more or less doubled from a year ago. The inputs required for more drilling are expensive or impossible to obtain. The correct course is to bulletproof the balance sheet, build a war chest and prepare for an acutely cyclical market. WTI at $102 U.S. is around $130 Canadian so ARX is still piling up FCF in a bigly way.
"Fight on my men", Sir Andrew said
A little I'm hurt but not yet slain
I'll but lie down and bleed a while
And then I'll rise and fight again.