Wednesday, October 15, 2014

Do You Agree This Was Reason For Collapse? -- Fitzsimmons, Seeking Alpha -- October 15, 2014

Fitzsimmons over at SeekingAlpha: Libya's production was the single biggest factor causing collapse of share price of US fracking companies.
  • Libya was producing 1.65 million bpd of crude in 2010.
  • During parts of 2013, exports fell by ~1.4 million bpd.
  • Recently, Libyan production jumped by nearly 500,000 bpd from Q2 to Sept./Aug.
  • The rapid step-function changes in Libyan production was the single biggest reason behind the collapse of oil prices and domestic frackers' stock prices.
  • Meantime, ConocoPhillips looks very attractive after a $20 drop in the stock. 
This is not an investment blog. Do not make any investment, financial, or relationship decisions based on what you read here or what you think you might have read here.

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