The traditional energy boom and bust cycle is no secret. On the boom side: demand rises, prices follow, and production ramps up to meet demand. On the bust side: demand falls, prices follow, and production falls resulting in price stabilization.
However, although demand and prices have steadily declined since mid-2014, production levels have yet to follow suit. Instead, production continued to increase through January 2015. These production levels have put price stabilization on the backburner—a delay that, in addition to the traditional litigation lag cycle, has litigators anticipating an influx of claims later this year and well into 2017.
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