RECENT POST STUFF
According to a survey of upstream E&P's taken by the law firm, Haynes & Boone in September, only 28% of next years drilling budgets will be based on cash
flow from operations, the rest from debt, dilution of equity, sale of assets and other creative financing. That 28%, by the way, was based on oil
prices being $56 in 2020; we'll see what happens to growth if prices fall in 2020.
"The danger for the cartel is that if the cuts work too well – if they raise prices too high – U.S. shale could bounce back, potentially increasing the pace of drilling and threatening another wave of supply. Then, OPEC+ might need to extend the cuts again." Nick Cunningham, Oilprice.com
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