A RECOVERY IN FITS AND STARTS - OIL & GAS INVESTOR COVER STORY
by Leslie Haynes, Hart Energy
A fledgling recovery is underway as E&P companies send a few rigs back to the field and put debt behind them. Here’s what the bulls and bears think.
"Forget whether the oil industry’s recovery is going to be shaped like a bathtub or a V. That debate is old news. The bottom’s been called, and a tentative recovery is underway if you look at the upward move in oil prices, onshore rig counts and A&D activity since last spring. But alas, the caution flag is still out, because the price of oil is bouncing around between short-lived rallies and discouraging setbacks, as traders and budget planners hang on every word uttered by members of OPEC. Each day, we check our smartphones: Where did oil close today?..."