Service & Supply | Quarterly / Earnings Reports | Oilfield Services | Second Quarter (2Q) Update | Frac Markets - Pressure Pumping
Schlumberger; Blame US Equity Investor For Low Oil Price
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Schlumberger provided some interesting macro views on the the US land market during it's 2Q17 conference call. Here are some thoughts from Paal Kibsgaard.
US Land, Equity Markets & ProductionWhat we are currently witnessing is that the U.S. equity investors and E&P companies have spooked the oil market investors into believing that the fast barrels from U.S. land will flood the markets and leave inventory levels elevated for the foreseeable future.
Therefore their pursuit of short term equity returns from the U.S. land E&P stocks is actually preventing the recovery of the oil market and sending oil prices further down thereby eliminating any equity appreciation that the investments set out to create in the first place.
So what does this mean for the outlook for oil prices and E&P…
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