Quote:
Originally Posted by GH85Carrera
That is likely going to be put on hold. When the price comes back up they will go after shale oil again. We will keep buying the cheap Saudi oil until it is gone.
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Agreed. The price Shell and others are paying for leases went from $3250.00 per acre to $500.00 per in a heartbeat. All the leasing has pretty much come to a stand still. HOWEVER they are working on getting pipelines in place, building access roads and a cracking plant over on the Ohio. In washington county, south of me, you can't get a hotel room because of all the oil workers in that area. Homes are leasing for crazy money. We get field workers coming into the shop a lot and money is no object to them. The oil companies know it's just a matter of time and are using the lull to prepare for the big flow. I have mixed emotions about it really, but I took their money just the same..