new leases down

[k1f]

<<http://www.nytimes.com/2015/08/20/busin ... eases.html

[dan_s]

The majors and large-caps that that have operations in the Gulf of Mexico have teams looking hard at takeover targets. They can add reserves a lot cheaper on Wall Street than they can in the Gulf of Mexico.

I have received calls from two large hedge funds that have $billions ready to fund takeovers. The "buzzards" are circling. This happens at the bottom of each cycle.

[farrell90]

Dan, These periods of panic always create bargains. Any idea where the vultures would lurk for bargains at this point?