@TraceyRyniec @StankyPigano @Forklift5909 Even if every producer suddenly got a pile of cash and wanted to add rigs...there is very little operations ready equipment available and companies are struggling to rehire. What happened to all equipment? Well it was scavenged for spare parts last year. We can’t fix our 15% decline in domestic production anytime soon...we’ll need years...meanwhile the world will be using more oil & gas than pre-Covid in 2022. wsj.com/articles/global-oil...
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@SheDrills @StankyPigano @Forklift5909 Yes. This. There was an oil services guy on my Twitter feed today talking about how they have plenty of job openings and no one to do it (and they're good paying, of course.) It's just not going to happen in the near term like this analyst thinks.
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