Yes, producing comfortably with nice dollars coming in. And when the next round of drilling and completion is done we will likely IMO see O&G commodity pricing higher again.
The Iran deal may or may not happen however Iran would know they have the US administration in a tight spot. SPR releases are due for completion in October, Iran know the oil is needed to make up for lost oil on market when the SPR realese stops. If the Iran deal does not go through then what is to happen to the commodity pricing then
Only need to look at the chart from HFI below to see what is primed. OPEC+ is struggling for spare capacity and US drillers are showing constraint still, DUCs are beng exhasted and the rig count is trending down again and will not likely hit the 400 hundred active rigs considered the balance point to meet market supply and demand, hence the SPR and Iran deal being critical. US administration have handled everything very poorly IMO.
Keep well cheers Paul
Yes, producing comfortably with nice dollars coming in. And when...
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