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US oil 'strippers' keep pumping despite slump
They produce over a tenth of US oil output, enough to affect supply-demand balance and prices
Add BT as a preferred sourcePublished Tue, Jan 5, 2016 · 09:50 PM
Houston
US "stripper well" operators, the nation's smallest oil producers seen as most likely to succumb to the crude price slump, are hanging in tough, reducing the chances of near-term production cuts needed to rebalance the domestic oil market.
The conventional wisdom is that "strippers" would be the first to fold in the face of oil's slide below US$40 given their tiny size - some may pump as little as few hundred dollars' worth of oil a day - limited access to capital and high costs compared with bigger, more efficient shale producers.
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