Quote:
Originally Posted by burn_this_city
Lets hope the darkest isn't sub $20 like it feels like we're headed. I would have thought people would begin shutting in marginal stuff worldwide at sub $40, but here were are at $28 and it hasn't happened yet.
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I think that is because of the leverage, which takes a while to unwind and is particularly messy. So its better for them to keep rolling at $28 and make the loan payment while they can in hopes of being "the one" that survives.