The US shale oil sector truly is "resilient." It can sell ice cubes to Eskimos and raise money to keep drilling that unprofitable shit. They're on track to be able to borrow more money in 2021 than EVER before!
Lets be clear, however, more money adds more debt and simply delays the inevitable.
Another $10 increase in oil prices will not help the shale oil thing now; PDP reserves are not being replaced and are being depleted rapidly; along with that, production volumes.
Not very many ANALyists understand the ramifications of 85% + decline rates the first 30 months of production life. A shale oil operator has to go wide-ass open, constantly, just to maintain production rates. The days of growth, are over.