Could be interesting!












The number of rigs in the USA is still only around 800 down from the peak of 1400 in 2015. There was signs of a come back, but the trend is downwards again now.

I haven’t kept a close eye on it and the reasons because my one investment left in US shale, fracking and the Permian was EOG Resources who were sat on land they owned for years before it was discovered the permian is basically one big oil field.

So, of course they rose and the share price did reasonably well, although never quite had the breakthrough I was expecting for a long time. Then it did take off for a short while, then fell back again sharply at which point I sold out for approx @$105 from memory.

It was a good decision because they’ve continued to fall, and they are one of the best oilers with access to the Permian , best operating costs and some of the best claims, yet they closed on friday @$73, about the price I bought them in 2016.

Like I say, not sure about the whole story, but there is a lot of costly problems surrounding the permian and getting the oil out and to a customer who actually wants it - export terminals are still mostly under construction and USA has as much oil and gas as it can handle.


Looks like eli akaso is on the move out in open water now! › vessels

Vessel ELI AKASO (Ship) IMO —, MMSI 370570000 - FleetMon

Get the latest live position for the ELI AKASO. You can also check the schedule, technical details and many more.






Interesting article on U.S. shale, @linksdean, especially given that it is really that cohort that dictates the global balance between supply and demand since the oil price lows of 2016 and before.

I used to be invested in Chesapeake Energy which the article names as one of those probably about to go under next. Yet they were one of the better plays during the shale boom (if your timing was good) and even stood out when the bottom fell out of the gas market from over-production leaving only those frackers that had also discovered oil still competing.

It also included this graph showing the trend down in rig count that i commented on recently

Just goes to show that there is more to oil and gas production than simply setting up a rig on a resource and drilling and pumping. Cost controls and efficiency are key when the oil price remains tight, and WTI under $60 appears to be tight when it comes to US frackers, despite much greater efficiencies introduced over the last 5 years.