Old Oil Rigs There were a lot of predictions last year that 2016 would lead to the disappearance of many strippers – the oil well producers who take nearly depleted “stripper” wells and keep them running and producing a few barrels a day. This year is proving that strippers are much tougher than many analysts gave them credit for. While many strippers have taken action to cut back some of their less profitable wells, by and large, stripper production is much more resilient than many had expected. That reality holds important implications for the industry at large – more on that later though. Stripper wells are generally operated by very small firms – often family owned, with limited access to capital, and less economical operations than most large scale fracking producers. Yet unlike many of the large fracking companies which are large organizations with the associated bureaucracy and overhead, […]