Really good article for anyone wandering how the shale situation in America looks to be playing out and from before the collapse in the poo (thanks to Nordesmic):
No wander the poo looks to be stabilising in the last month or so - our oilers just need to hang on and we'll ride this out - shale is in real trouble in the US and the declining rig count means they are not replacing the wells and squeezing what they can out of what they have - clock is ticking even with Iran entering next year - they'd be lucky to replace the decline in both the North Sea & the US:
Don't do as I do, page-31
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