Ep. 421: Oil Insider Sees More Bankruptcies Ahead

Wall Street Unplugged - What's Really Moving These Markets

Frank Curzio

Business, News, Commodities, Debt, Investing, Macroeconomics, Gold, Personal, Uranium, Oil, Economics, Business News, Geopolitics, Industry, Crypto, Stocks, Curzio, Trading, Finance, Research, Investments, Tokens, Talk, Crisis

4.5 • 1.1K Ratings

🗓️ 15 June 2016

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

Cactus Schroeder, founder of Chisholm Exploration and oil veteran who has been drilling wells in Texas for more than 40-years, shares his thoughts about the current state of the oil market and where he believes prices are headed over the next few years. He also gives us an insider perspective on how much drilling is actually taking place in the Eagle Ford and Permian Basin right now... The new technologies companies are using to lower their cost of production... And which large-cap companies are aggressively acquiring shale assets in Texas. Cactus then talks about the "real" breakeven price for shale producers - since it's a lot higher than the $50 a barrel breakeven price that is often talked about in the media. He sees more pain specifically for oil services companies. But also believes we could see plenty of more bankruptcies if oil prices remain below $55 a barrel.

Transcript

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0:00.0	Wall Street Unplugged looks beyond the regular headlines heard on mainstream
0:06.1	financial media to bring you unscripted interviews and breaking commentary direct from Wall Street
0:11.8	right to you on Main Street.
0:14.0	How's it going out there?
0:17.0	It's Wednesday, June 15th.
0:19.0	And I'm Frank Curzier, a host of the Wall Street Unplugged Podcast,
0:22.0	why I break down the headlines and tell
0:26.6	you it's really moving these markets.
0:31.1	Just got back from vacation.
0:32.3	A great time, my family, Dominican Republic. Just got back from vacation.
0:33.0	A great time, my family, Dominican Republic.
0:36.4	Got to hang out with wild monkeys,
0:39.3	swim with eight foot sharks.
0:42.1	I had no idea they were that big.
0:43.7	They said, yeah, you gotta go snorkeling, swim with the sharks,
0:45.8	and we went to like this 20 foot pool in the ocean,
0:48.2	swim with them.
0:49.6	And we didn't see them at first, like, ah, you know, where the, and all of a sudden,
0:52.3	these three massive sharks were underneath
0:54.4	this, everyone left their heads, they're like, we're done, that's all right, we're good.
0:58.2	It's unbelievable that was so close to us.
1:00.2	Really had a good time, You need it, you know,
	...

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