Just a comment to generate a bit of thought - a lot of people...

Just a comment to generate a bit of thought - a lot of people forget that shale oil and gas can be switched off... If its not profitable to sell at current levels, companies are able to cut off production and wait for things to change. American shale operations won't necessarily be going out of business and starting to make huge losses, because they're in the unique position where if they have a producing well, the outlay for the drill is the main cost component of their asset so they dont loose out by turning the tap off. The land lease payments and head office costs are the only things that are going to send the company broke but as long as they're able to manage it and keep it reasonable, a lot of explorers and junior oil producers should be able to survive these markets. However, I also hope pym are offered some 'too good to give up' opportunities with companies selling their crown jewels for pennies on the dollar just to stay alive... Cash is king in this environment and if we can have some producing wells that are operating at a profit and that we can use as leverage, we might be lucky enough to make some lemonade...