Link here. Banks are probably now "driving" the company.
Screenshot says it all:
If one is inappropriately exuberant about the Bakken, this has to be very, very concerning.
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First question: how did this happen?
55 is not the same as 65. (WTI) It just isn't. Plus in ND, you have the transport basis difference from being so far inland. Makes a difference and can send some companies negative. If you magically transported the Bakken to south Texas, it would compete very well with the EF or Permian. Actually it STILL competes well with the EF. But the Permian, not as much. But definitely some of it is being so far inland.
ReplyDeleteYou are so correct. This really has to be a wake-up call for many, many folks like me who are inappropriately exuberant about the Bakken. It is scary.
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