For decades we’ve had the boom and bust in our industry, that goes with the ebb and flow of the price of oil. Yikes, we’re in another crisis!
The drilling and production of unconventional wells, the availability of funding, longer laterals and bigger frac jobs has resulted in North American operators chasing production with the drill bit, at $10 million dollars per well. That’s great in a greater than $45/barrel cost environment.
As Warren Buffet says ‘It’s only when the tide goes out that you learn who has been swimming naked’.
We are currently in such a moment in our industry. How can we learn from this?