Penguin International

[HitandRun]

Thanks Raks san

I think I understand where you are coming from. I agree that for wells that have been drilled (and fracked), there is no reason for the oil to stop flowing as cashflow is still positive. Do note that the revenue received by each oil company might be different depending on the mix of their output (crude, condensate, ngl, ng) but I would typically expect a discount from WTI. Nevertheless, I have looked at the financial statements of many listed oil companies but as far as I can tell, none of them can make any profit on $40 oil (excluding hedging)... So I thought maybe I am missing something...