Long term production is decreasing in shale and conventional deep see oil rigs. As per what Woodside is doing even in LNG ventures. Anyone know whether there is a sort of cut off date when banks or High risk bond issuers will refinance these US shale ventures? Read somewhere it was end of feb or march. But no news on it on the internets.
With the upcoming BHP report coming up soon be interesting to see what they say in their reports regarding oil/shale. Since about 1/3 of their profit is oil even though most of their revenue is linked to iron ore.
SXY Price at posting:
15.5¢ Sentiment: Buy Disclosure: Not Held
