Crude oil is $86 today.... beginning of the end?

Thats because the demand to be CARB compliant by Jan. 1, 2015. Im sitting this one out and Im installing a DPF on my truck. Then by 2020 the market will stablize, Hopefully..........

 

Oooooops.......

 

Closed at $57 today.

 

Pulled from a pad today that is choked back from 250-300 barrels/hr to 100.

 

Rig count drops 29 oil rigs, largest drop in 2 years... that is 29 rigs not working, times the crew members, water and sand haulers, rig moving crews. that is 29 less wells needing support crews, fracking crews.....

That is 29 less wells needing oil hauled...

 

I heard an advertisement last week on Sirius/XM some investment company looking for suckers to.invest in the current shale/oil boom. Couldn't believe it.

 

29 less wells every three to six weeks, they drill and move and drill and move......
The numbers will go down further.

 

now they are stacking those rigs out, no more drilling...

no more need for flatbeds hauling casing, no more need for cement, no more need for bentonite...

no more need for rock trucks to create the roads and well pads...

 

Don't worry. When the Saudis have convinced us to slow production state side they'll jack the market price back up and we will have another boom.

 

The Rig count is still up 111 from last year.