Active Rig count now less than half what it was 12 months ago ....

Active Rig count now less than half what it was 12 months ago . Less rigs drilling plus shale decline rates equals a lot less oil in 6-18 months
I think the lag time has expired , it takes some time to use up cash , debt etc. it simple , like Australia , in the UD the cashflow in the energy sector is Lower, any hedges will start to roll off, debt markets are almost closed , and the activity is responding accordingly.
We have had a period of huge energy divesting , which has come from the environmental brigade and their influence on some huge funds coupled by the fundamentals. When it turns , SP will respond very well