Not sure it works like that US shale just naturally shuts down output by stopping drilling/fraccing and similarly when it wants ot ramp up just starts drilling again and all the infrasture etc is all in place so as its on-shore it has a completely different capex/opex cost base and production timeline to off-shore; it is very flexible and can respond very quickly, Yes lots will go to the wall but the leases will just get taken over by the next group waiting for the opportunity.
Not sure it works like that US shale just naturally shuts down...
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