Last updateWed, 25 Nov 2020 4pm

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Goldman Sachs: Shale Positioned Well to Withstand Downturn

In a note dated March 31, Goldman analyst Damien Courvalin says that “(s)hale’s high-pressured wells and short drilling time mean the industry is well positioned to benefit if the current plunge in oil causes long-term damage to production capacity, resulting in a price jump when demand returns,” Bloomberg reports.

“The note of optimism runs counter to the steady drumbeat of bad news that’s hit the shale patch since oil prices collapsed amid simultaneous supply and demand shocks. The price plunge instantly made thousands of prospective shale sites money-losing propositions.” 

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