Oil prices have solidified their position below $30 per barrel, marking what could prove to be an "endgame" event for many shale producers.
According to a report by Reuters, many U.S. independent oil producers need oil to trade at $40 to $60 a barrel to break event. The report added that when faced with the prospect of $30 oil, companies have few choices: bankruptcy, debt write downs in return for "deep" concessions, or fire sales of assets.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Jill Potts, an owner of Summit Oilfield Supply in Cuero Texas told Reuters that her business is reaching a "breaking point." The company sells valves, fittings, hoses and other equipment to share companies.
"If anybody says they are making money in the oilfield they are lying," Potts told the publication.