Remember, MRM has never been a play on oil price but one on exploration/development activity. Yes there has been some impact and deferral of CAPEX spend but at the end of the day these oil companies have to drill to survive. Weak, debt laden producers will be weeded out but their assets will be taken over and developed eventually. Oil price is just the accelerator or brake. Steady/increasing prices will see new boom times for MRM as all that deferred development comes roaring back at a time when competitors are getting squeezed out.
Don't forget MRM made a small profit during the most horrific oil climate since the 90s
MRM Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
