Oil driller says its high-tech rigs can’t compete with cheap crude

Fuel Fix ^ | January 7, 2015 | Collin Eaton

[Sequoyah101]

“A few years ago, a falling U.S. rig count would likely denote that oil production will decline over a short period of time – but with new technologies, that’s not guaranteed, analysts say.”

WHAT ANALYSTS?

This is just so much crap. Everybody wants to be on TV as an “expert”.

I got news for all concerned... peak shale will happen. When? Maybe not too long but it will be delayed by this bust.

You made an interesting observation today Thackney... Saudi nor anyone else can replace the “glut” of shale oil production increase from the US this last four or so years. There is about a 1% imbalance.

I’m like you. I’ve given up forecasting. Speculation is a waste of time. I do know this, every ditch has two sides. It depends on how tall you are and how long you can last to get across the ditch and up the other side.

Interesting... while oil was falling again today a notice comes out that money going into oil and gas investments is at a FOUR year high. Somebody is betting wrong. I wonder who?