The way shale oil works is that it is a financial business as much as a technical/fraccing business.
What happens is that when oil can be forward sold at $60+ the shale oil player forward sells a volume of oil and then drills or completes from their shale well inventory. There are various financiers in the US that will fund this game.
As long as there is an inventory of well/opportunities to play this game shale will stay in business. How long this game can be played is uncertain.
$50-60 New Normal or U.S Shale Bubble?, page-652
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Last
$6.96 |
Change
0.135(1.98%) |
Mkt cap ! $23.02B | |||
| Open | High | Low | Value | Volume |
| $6.95 | $6.99 | $6.93 | $11.47M | 1.649M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 16822 | $6.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.96 | 24948 | 22 |
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| Last trade - 11.00am 19/11/2024 (20 minute delay) ? |
| STO (ASX) Chart |
