RE: Bloody Hell9 Mar 2020 09:50
a price war between Russia & the Saudis...but here is the collateral damage..I'd suggest this is the real target of the Russians ''.....Now, U.S. shale will likely find itself in a state of true crisis.
Unlike a few years ago, recapitalization in any meaningful way is off the table. Capital markets have turned off the spigot. Also, the twice-a-year credit redetermination period is getting underway, and the most recent slide in prices will likely mean an immediate cut to credit lines from lenders.
Worse, the wave of debt taken out during the 2014-2016 downturn is about to come due. North American oil and gas companies have more than $200 billion in debt maturing over the next four years, with $40 billion due this year.
Peak shale may have finally arrived.'' oilprice.com