The $60 billion of oil-industry spending cuts this year aren't likely to be enough to meet sacrosanct dividend commitments as crude languishes near a six-year low.
The world’s biggest producers will need to trim investments by a further $26 billion, according to Jefferies Group LLC. Capital spending will have to fall 10 percent next year, Banco Santander SA says.
This company will probably stay around and continue to pump out panels and depress the solar market for a long time. Who cares if they have cash left or not, free market principles don't apply there.
wahts all tha fuzz with us shale oil. It will grow like 1-2 MM barrells till 2020 and then start declining. Hardly a threat to UDW.
"Analyst Lukas Daul in ABG Sundal Collier believe we have seen the end of a super cycle in the rig market that has lasted for more than ten years. He fears that the bottom has not been reached.
- One should into a downturn, and one should far down in the basement, he says to DN."
The dynamics is that many rigs are fighting for a few jobs. Then price discipline disappears and people are bidding under another. So it is with every tender, and adding a little lower than what you think the other is going to town, it's a vicious spiral that is underway, says the analyst."
time to go short imo