So, who is going to be the first oilco. to take capital out of the Permian with WTI at $59 and redeploy it into ultra-heavy production in Venezuela with 50% royalty rates, 33% tax rates, massive security challenges, no rule of law, and decrepit infrastructure? Drill, baby drill!
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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