By Mark Finley
It’s been a rough year for US shale producers. Prices collapsed, investment collapsed, the rig count collapsed, jobs collapsed. And production collapsed: Indeed, in recent months we’ve seen the fastest oil production drop in US history.
But things are looking up. Prices have recovered, with the US benchmark of WTI now near $43…the highest since the Saudi-Russia price war that followed the onset of the COVID-19 pandemic. The rig count has stabilized; the frac count is increasing. Moreover, the economy is recovering, stimulus programs have been adopted and Interest rates are at record lows.
In the last big price collapse in 2015,