[doldrumsforgop]

“Drove out to Lubbock this weekend and saw 3 work over rigs. At these prices, what are they doing? Are they pulling the pipe to prep for shut in?”

Likely they are doing typical servicing costs required to keep things going, like changing our pump or repairing a tubing leak.

If a well is producing enough oil, then it is economically justified.

Some believe the conspiracy theory that oil companies collude to shut in oil to ‘prop up’ the price.

Nonsense

[PeterPrinciple]

Some believe the conspiracy theory that oil companies collude to shut in oil to ‘prop up’ the price.

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I would hope many of these unemployed oil people can find jobs building the pipelines that need to be built.

[DIRTYSECRET]

How much does a barrel of oil have to cost to keep our rigs running? Coal would allow us to export more. Nuclear? Build a few. We would be a DEPENDABLE supplier. Squeeze the weapons money going to the middle East.