17 Nov Midterm Fallout (?)
OK, so now we know the Republicans have control of the House and not the Senate for the next 2 years. So, what massive changes can we expect to affect direct oil and gas participants?
None…Zilch…Nada
Regardless of whatever teh outcome of either chambers were this year, as long as President “No More Drilling” is in place and has control of the federal agencies below it, we can expect more of the same.
First, he/they has created an environment for the public companies to simply push out dividends vs field development to shareholders. Between this, the lack of institutional funding for smaller plays, and the BRICS countries cutting back daily production, there is plenty of space for operators to look for working interest participants and have good ROIs on the AFEs as prices will stay in this range for a while.
Thanks, Joe! (?)