Jack McClendon: US oil rig count stagnation despite high prices, smaller companies thrive by targeting underappreciated assets, and conventional reservoirs hold untapped potential | Odd Lots
The Big Coin Report Take
Smaller oil firms thrive by exploiting overlooked assets amid rising costs and stagnant US rig counts. The post Jack McClendon: US oil rig count stagnation despite high prices, smaller companies thrive by targeting underappreciated assets, and conventional reservoirs hold untapped potential | Odd Lo
The Big Picture
This story reveals a market structure where capital allocation is inefficient, favoring large-scale projects over nimble exploitation of overlooked assets. This indicates that despite high prices, overall supply growth will remain constrained, pushing energy costs higher.
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