Weekend April 24 2021
In the oil field companies expand and assume debt at the top of the oil market. Then they go bust with the oil price falls to break even or lower.
I recall seeing the CEO of Abraxas talk to the Petroleum Accountants a few years back. The stock had finally reached $5 and he was over the top positive when the oil price was over $100. I doubt he would have hired me as a consultant, too bad for he and his shareholders.
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