Flight,
Reduced drill costs are one implication, but the other is that the oil industry is struggling. But hang on, that's not bad news for FAR. On the contrary. If a major oil service player like Schlumberger is laying off thousands, then its customers (our competitors and potential acquirers) are not doing much drilling.
It's worth stating for the newcomers that most of these negative stories about the oil industry are VERY good for the oil price, because they are flags for LOWER SUPPLY in the near and medium term, which is all good for the price of oil going forward towards the time FAR becomes an oil producer and/or commercial reserve holder.
Cheers
US Shale worsening, page-9
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