There is a delay between rigs being idled and production drop off just that same as there was a delay between rig build up and production increase - looks like the lag is around 12 months or so - if you look at the rigs v production over the last 6 - 8 years.
We can't be far away though from seeing production fall off but without companies actually being taken out and wells shut down then that curve will be slower then we need it to be.
This month is so critical to send the right signals back to the US market in regards the shalers & oilers in general - that backing them is not smart - then we should see consolidation and shutting in of poorer wells or those that require further stimulation to keep pumping at the same rate.
We just have to wait and see and hopefully the poo stays lower even though it will hurt STO as well - its hurting US production a whole lot more - we just need to survive in the short/medium term and our new CEO needs to show the market he can cut to balance the looming writedown - tough time for STO - hell of a lot tougher for the US shalers/strippers and oilers in general.
GLTAH
- Forums
- ASX - By Stock
- STO
- Im still cautious
Im still cautious, page-41
-
- There are more pages in this discussion • 68 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add STO (ASX) to my watchlist
|
|||||
Last
$6.92 |
Change
0.040(0.58%) |
Mkt cap ! $22.47B |
Open | High | Low | Value | Volume |
$6.92 | $6.93 | $6.84 | $41.01M | 5.946M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 25681 | $6.90 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.92 | 50135 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 25681 | 6.900 |
3 | 48461 | 6.890 |
4 | 62572 | 6.880 |
8 | 89137 | 6.870 |
4 | 53735 | 6.860 |
Price($) | Vol. | No. |
---|---|---|
6.920 | 49402 | 5 |
6.930 | 45495 | 2 |
6.940 | 54488 | 5 |
6.950 | 15766 | 5 |
6.960 | 5406 | 1 |
Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
Featured News
STO (ASX) Chart |