Providence Resources - Re: Nothing - Hi Spuddy, agree with you...

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Re: Nothing
14:24 27/01/2015
JREwing
0 replies 0 0

Hi Spuddy, agree with you on AFREN and the thin volumes. In addition to what you said on fracking, most fracking in the States has a breakeven point of $80 a barrel, rigs are hired on long term contracts, so producers waiting until end of contract and then decommissioning. As you say Q3/Q4 is when this is expected to wash through the system. Expect price to rebound to $80 per barrel then. Oil companies currently valuing future projects at this mark.

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