From one industry forecaster-Key points:
-Most of your serviceable equipment and crews are already working and are close to being at capacity.
-Global Supply Chain issues are hitting everyone and are having impacts on building new fleets/spreads/getting consumables and the like. Its going to take a long time to "ramp up".
-Most of the Majors and Independents were spending their capital retiring debt accrued during COVID survival or doing stock buybacks. But, Independents will probably be more aggressive in this crazy market.
-The "transition" to renewables and political pressure on banks to not loan money for oil and gas.
-Oil field talent quitting vs hiring. (Well Service Crews)
-The comfortable price of oil is about $85. But, some folks are now predicting up to $200 before it goes back to that...