Below This fella is the same guy on Seeking Alpha called Raw Energy; he knows his shit. Read him as often as possible. "Free" cash flow is not free when you are up to your hard hat in debt. Free cash flow is NOT the same as profit. As we approach 2Q21 earnings you are about to hear a raft of misleading, deceptive dog dookey from the US tight oil sector that will make you believe they've finally turned the corner. Don't believe it. Every barrel of proven developed (oil) reserves (PDP) they take out the ground now to pay down debt, provide returns to investors and make CEO compensations higher, is like flushing a toilet. If they don't replace those reserves what do you think "free" cash flow is going to look like in 12-18 months? As PDP assets decline so does they're credibility, they're ability to borrow more money in the future to resume growth. $70 oil does not fix any of this. Read this ! He's good.