Ann: Change in substantial holding, page-19

When you say they have consolidated shale into bigger and stronger what you mean to say is that much of the industry went bankrupt right?
It's hard to reconcile this fact with the idea that U.S tight oil is profitable at U.S. $35 per barrel.
If you want one more barrel and an industry in depression $35 is fine but a sustainable level is $70+.
If that will come in time for MRM is quite another question Dang is on his own here.