I only know what's been announced about the merger. In this price environment, it's likely a good thing. Hopefully STTX will emerge a stronger company when the price does go up.
The drilling program is likely marginal at $60/bbl and uneconomic below $50/bbl. Most companies are laying down rigs and even giving back leased rigs and paying penalties. Good time to renegotiate with venders and royalty owners. Getting new money from banks will not likely happen now until oil prices exceed $75/BO.
The game has changed - It's all about surviving and being extremely resourceful until oil price eventually go up.
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