SN - Low Oil Prices And The Flawed Leaner Meaner Shale Industry Theory
The low oil price environment helped to shape the US shale oil and gas industry into a leaner, meaner machine is what the general investment community consensus has become. It's the simple theory of hardships and adversity helping weed out the weak, strengthen the already stronger ones and whip them into shape. On the surface, the theory seems to fit. Some companies went bust, while others, who often had a hard time turning a profit when oil was averaging near the $100/barrel mark, were making it happen with oil at $60-70/barrel oil. New ways of