te. “Consider that commercial-grade dump truck tires can cost half a million alone, and must be replaced once
They need new drivers not new tires
This chart is very misleading in that it shows the companies position after the second quarter of 2015. The vast majority of these companies recognized that they had to cut cap ex to reflect reduced revenues and to bring cash flow and expenses in line. I own stock in 6 of the listed companies and they all have taken significant steps to retrench. If energy prices do not rebound until 2018, all bets are off, but short of that scenario these companies will be okay. They will sell off marginal properties and if necessary reduce their dividends, but they will survive. Saudi Arabia is pumping at max production. I doubt they can keep that up much longer and US production is already started to decline, which should start to stabilize prices and put a floor under energy prices.