The next round of improvement is being driven by the dual challenge of low oil prices and high acreage prices.
“Some people are reaching the conclusion that whether they can or not they don’t want to pay $20,000, $30,000 or $40,000 per acre,” says one financial firm executive.
“What they don’t do is bring everyone into a conference room and say ‘Guys we are going to wait for five or six years until this cools off and we figure out what to do — they don’t do that,” he adds.
