What Comes After The Commodities Bust?
Submitted by Leonard Brecken via OilPrice.com,
The days of E&P companies using external debt financing to fuel growth have most likely come to a close.
The one thing executives should have learned in 2015 is that Wall Street can for long periods of time remain disconnected from fundamentals and can swing to extremes. Another lesson from 2015 is that OPEC can no longer be relied upon to set prices.
Thus, the debt fueled financing boom in the shale space will most likely never return.