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To add to that, the wells they already have drilled are perfectly happy to sit around until someone goes out to frack them, and the wells they've already fracked are almost perfectly happy to sit around until someone produces them. The only investment that can't survive a year of unfavorable prices is the effort the business development guy put in to making phone calls.



To add to that, shale produces apparently hedged hard against price drops and are currently sitting on a big pile of money ready to be deployed.




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