So some folks are already hurting, some are getting ready to hurt, and some are still making good money.
Wood-Mackenzie is predicting that it will bottom out at $30 --- then rebound and stabilize at ~$73/bbl. The time it takes from reaching the bottom to stabilizing will be the determining factor on who makes it and who folds.
I doubt that the recovery (of oil) is just going to stop, though.
The big fish will swallow up the mom & pops who don't have the necessary portfolio of assets to weather the storm, as it were.
Then, maybe, we'll get a republican president who will issue new leases and with their new tight recovery assets we'll really be in a position to stick it to the Arabs.