A race to the bottom. Stranded assets loom large and clear.

Analysis: Oil companies bet on $100 a barrel as they rush to sell assets | Reuters

European banks have also largely pulled out of lending to oil companies. Smaller deals or land with more shale, seen as less polluting than tar sands oil, may be easier to finance. The larger IOC's may weather the storm and transition / re-invent themselves into renewable energy. What of the Tier II operators in this sector, already squeezed.