STO 1.85% $7.41 santos limited

$50-60 New Normal or U.S Shale Bubble?, page-6

  1. 2,251 Posts.
    lightbulb Created with Sketch. 54
    Thanks, sounds like some good industry knowledge there
    Agree about STO being attractive in the $4 range with usual caveats.
    Interesting you say that recent rig count gains are targetting conventional plays. The Eagle Ford has increased its rig count by 8 over the last 3 weeks, the Bakken by 3 (north dakota rig count - not so sure) to 60 rigs out of 337 rigs drilling for oil in the U.S. Of the 21 new rigs just over half went to Bakken and Eagle Ford.
    It's nothing like enough to stop the rapid decline in these fields and it seems you are right most of the rigs are not targetting the most productive tight oil plays but retapping older conventional fields like the Permian.
    Very different from the prevailing narrative which you would think would mean all the rigs concentrated in the most productive tight oil plays (eagle ford and bakken). Unless that is the best areas in these fields are in decline..
    Time will tell.
 
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