Oil in the 30's, page-2

No rabbits from T-Rex and the majors either.

It's not looking good for a whole lot of companies, some of them rather big (in $EV terms). Companies come and go but the in ground resource stays put - just the ownership changes. For instance I cannot fathom what Devon Energy is thinking in making that multi-billion acquisition - sure its a good fit but their timing??

A whole lot of companies - SSN included - are CASH MARGIN NEGATIVE on production at the present time. I believe the 10Qs for this Qtr (so to be filed before 15 Feb-16) will see a whole lot of companies bust their EBITDAX covenants. On top of that will come yet another round of Reserves being taken off as assets (due to the 5 year SEC rule on development of PUDs) and of course further impairments due to SEC PV10 calculations on Year End Reserves.

Also happening now is the infrastructure is in danger as the volume commitments to pipeline companies (even though contracts are take or pay) are increasingly looking "weak" and so threatens the cash flow thought to be secure) of those companies too. Possible doomsday scenario in late 2016 may play out.

Maybe SA wants all of them out of business - and is buying up the debt to take asset ownership later in the game.

Kinda sorta hard to see a positive from any perspective. WTI at $36.75, Rocky Mountain journal has Williston Basin at $27.