"In long-term reality however, nothing will change on a grand scale, although the new company may drill a few less wells overall, it won't be enough to make much difference - they still are out to make money, in my opinion, and will still be governed by the laws of the marketplace."
Aggie,
Thanks for your response. My sentiments exactly. Your comments backed up what I thought would/should happen too. My real feeling is the drillers are taking a dive because of recent concerns about mild winters decreasing consumption, and more oil in storage than has been reported. Simple matter of perceived, supply and demand situation.
If someone comes out and shows there really aren't the quantities of oil in, "unreported" storage as currently believed to be, or a few more reports come out showing the Caspian Sea isn't going to be as productive as originally thought, or if the Asian economies are perceived to be really recovering, etc., etc., then maybe the drillers will rapidly rise in price. Lot's of things could happen that may have a dramatic effect on the drillers. Hopefully not to the downside!
Thanks,
MikeM(From Florida) |
