catdaddyrt Member Level Monday, 01/19/15 12:09:27 PM Re: pete807 post# 1332 Post # of 1333
You are right, zero stability in oil prices and I bought unleaded gas at 1.65 this weekend - that's crazy good lol Rigs are stacking, not just in the shale zones but here in West Texas also - most of the oil companies that I have friends connected with have given me reports of cut backs but no one is pulling the plug yet - a few are running business as usual and plan to do it all year - from what I can gather we have seen about a 10% reduction in drilling out here but I expect another 10% cut in the next 90 days - then maybe things will be bottomed and stabilize. Into the 2nd half of summer I think we see the momo start back up and by the end of 2015 back to wide open. We have oil & we are going to produce it - OPEC will just have to get over it. I have bought some bloody oil stocks for the long term and one of them also has a trust stock I bought along with it that pays a dividend off of royalty interests - so good luck everyone in 2015 however you play the market.
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