It Is Going To Get Worse Before It Gets Better

After reading comments from OilPro about Halliburton conference call, it seems like the scenario for the oil and gas industry is as follows: • The production budgets have been spent. Look for less activity in the 4th quarter and the rig count increasing. Both Halliburton and OilPro think the on land rig count get down to 600 by the end of the year. • With the start of the New Year in 2016, drillers will have new production budgets which means drilling will pick up. The common strategy for the E&P companies is “drill or die” which means they will be drilling once the new budgets go into effect. • Here’s comments • The projected low rig count should mean that the price of oil should move up a little. Let’s hope so. Here s an interesting perspective from Dave Lesar from OilPro. I think there s actually a different way you need to think about the customer base in North America, especially the independent customer base. And that s essentially with the high decline curves th
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