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So long as Saudi Arabia is intent on destroying US and other competitors I don't see oil rebounding. I live in an area with a lot of frac sand is mined. Those guys are starting to shutdown because oil prices don't support recovery costs for their customers. RIG is at the high cost end of the oil production. It's dead until oil prices rebound.

On the bright side, the Saudis are making a costly bet that they can hold out long enough to wreck the non-OPEC competitors. They have the lowest oil production costs but the lost revenue is going to squeeze their economy hard eventually. And that means political problems for the rulers.

Right now I think its a costly game of chicken. For RIG that means hunker down and try to survive. I think they can do that but I don't believe the stock price will recover for a few years.
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