RE:RE:RE:RE:This is interesting .......HighOctane89 wrote: I don't want it but with falling prices , drilling will suffer and so will supply . That was what I was watching .
Cobalt wrote: Too many big names think the Fed will bring on real pain , who wants to hold a driller going into that? if you want it, pick it up in the heart of the recession next year when fear is everywhere , good times
Hightowntrader wrote: HighOctane89 wrote: Precision Drilling is getting killed today , seems the market understands that lower oil means less drilling . Less drilling means ............ well , you know .....
PD is a weird one for sure... In the summer it dropped over $10 in a matter of days. Fully booked for months doesn't seem to mean much, as it goes up and down as stupidly as the WTI and associated stocks do.
I know that they are busy.
Like I said, I've seen it go up and down like the stocks do and totally get kicked in the balls some days. But if you think about it, are any of the Calgary companies cancelling their drilling for the upcoming Fall and Winter, just because of yesterdays 75 points?
Last week we were all giddy that Baytex was going to fill the sheets with red and move up from 10 of the best 11 wells to whatever out of 20.
We don't use PD, but LeFehr isn't cancelling last weeks plans is he? Do you want any of your companies to cancel their Fall/Winter capex?
Just saying...