I can think of a few companies who were caught by the the increased expense & rarity of drill rigs which was caused by the oil price spike. I think it may have been timing that caught them out.
Maybe if the oil price had topped at $80 and stayed around there they would have found it easier to find good rigs/crews and the costs of the wells would have been a hell of a lot cheaper.
It seems to be ok at the moment so hopefully the wells will be completed successfully and we will get good flow rates.
ADI Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held