if shale was making money at 20-30 / bbl then how come their...

if shale was making money at 20-30 / bbl then how come their cashflows couldn't cover their capex? just face it, the business couldn't sustain itself at >100 oil, so it isn't going to at $50. the whole thing is a bubble built on free debt. its a ponzi. without more low fixed rate debt to drill the wells, it cannot continue.

just wait for their hedges to unwind and the production decline on the current wells to play out. have you seen the price of debt for energy now?? the business literally cannot keep going. Shale will just stop in 6-9 months if the price stays here. Ignore the yanks jawboning.

unless the US gov bails them out or something. I suppose it is a bit of a national interest for them as far as energy security and jobs goes. like the entire sector is this us-noc that they need to look after.