SP13 Feb 2024 07:08
Dare I say it, long or short, we are now on the cusp of a breakout either way. Regardless of whether the ESP yields higher rates, which is still a few months away, the rod pump rates are going to show if this is commercially viable moving forward. If it can’t break at least 150bpd I’d expect the market to react negatively. If it’s above that, good news, I’ll have to think about closing my short!
Hopefully not long now, the wait has been painful.