The key word is “eventually”.
History shows otherwise for companies with the financial wherewithal to take the downturns and to snap up reserves cheap via purchase rather than the drillbit.
My BD experience shows a pletHora of companies that utilize that strategy and it works.
If you are implying the downturn will never reverse, that is just flat wrong, as proven by history.
Your comments are most pertinent for some companies, but not all.
If you are implying the downturn will never reverse, that is just flat wrong, as proven by history.
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Oh heck no. I’m must be speaking poorly. I know the roller coaster ride will continue.