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Halcon may struggle to find economic wells in 2015, page-23

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35,472 Posts.

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29/11/14

15:24

Post #: 14377904
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Originally posted by cmonaussie ↑

I'm confident of making money on Santos and large cap US oilers & infrastructure.

Last time OPEC left the spigot on (back in '86 as in 1986 for those of us old enough to remember) it crushed prices by over 60% and put US production back 2 decades. Watch the land drilling rig companies (offshore too for that matter) - equipment will be sold for pennies on the dollar.

Saudi's have shown their hand IMO. Now, just as back then, they want to regain market share. First put the weak out of business, then slow the strong. Lets see by how much overall US (and Canadian who together have been the biggest "stealers" of marketshare) production falls end of 2016 - only way to tell if Saudi's end game was a winner or not.

While I'm hopeful its a couple of months thing, my gut is saying it might be more than a couple of years before seeing $100/Bbl again.

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I am still picking a return by mid 2015, and that was at $80, now into 60s.
The rebound has always been strong.

AKK Price at posting: 7.4¢ Sentiment: Hold Disclosure: Not Held
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