I don't know when the supply/demand balance will occur all I...

I don't know when the supply/demand balance will occur all I know is that it depends on the shalers and no I don't believe they'll get snapped up by Exxon or others as they're not profitable which is why they're going broke. Also from my reading Exxon looks to be wanting to get into Iran once sanctions are lifted..
The best will get cherry picked but thats probably only a quarter of the existing wells - in the brakken transport is killing them so even if you were cashed up why would you buy a liabilty which is what a well is thats losing money?
STO should see through the next 6 to 12 months at these levels and if our dollar keeps coming it will boost returns for all our oilers.
We all know in Feb every one of our aussie oilers will cop a writedown along with most of our resource companies due to falling everything.

TIME magazine on Iran Jan 11th 2016:

Why the Shift?
Several explanations for the shift in public posture are possible. One is that Iran’s immediate post-sanction aggressive public posture was a bluff—that Iran currently does not have the physical capacity to produce and export an additional one million barrels and cannot do so without substantial foreign investment. International sanctions on Iran over the years have eroded Iran’s oil production, transportation, and export infrastructure. The conditions of its oil wells likely deteriorated and require extensive maintenance, while many pipelines are in poor condition and potentially unfit to handle increased volumes.

Wasn't it there next door buddy - Saddam Hussein who also liked to bluff...