Anybody know what percent of revenue came from shale last year? If we wipe that out can we still survive?
2 replies (most recent on top)
Pretty much what the pervious reply said.
Go ahead and start you searching.
Oil was having trouble staying at $40 in feb, with a working economy as demand.
The beer flu has demand at record lows and governors are keeping restrictions in place along with a record glut.
Prices are going to be broken for quite some time and all the manipulation that OPEC and governments do will only draw out low prices.
Keep in touch with co-workers and be supportive. It’s one of the things that keep me positive right now.
If the price of oil does not recover to +/- $40/bbl by the end of the year there will be massive reserve write-downs for all companies with unconventional resources. With such price uncertainty expect investment budgets and activities to decline. As usual, if there is less money to spend, then the need for engineers, geologists, and landmen is reduced. If you are on furlough, you should be using this time to contingency plan.