Friday, November 25, 2016

Another Good Day On Wall Street? -- November 25, 2016

From The Sidney Herald: Break-evens are lowest right now in Dunn County at $15 West Texas Intermediate, followed by McLean County at $16, McKenzie at $17 and Williams County at $24. Williams County’s break-even rose $1 and was the only county to post an increase.
“Industry efforts have moved to lower and lower break-even prices, so when we get into the third quarter of this year, we can break even on wells under $30 a barrel, meaning all counties in North Dakota are better than break-even for drilling,” Helms said. “Industry is looking at adding a dozen rigs.”
From an October 28, 2016: Whiting says it can make money on $25-oil.


Obama's legacy: from The  [London] Fiscal Times.  Nothing new; I was just surprised to see it in The Fiscal Times. This is much more interesting: the US Navy using the new F-35B to fire a missile from an Aegis destroyer.

Portland: have protests died down in Portland? I haven't heard much; our daughter says she's not aware of much going on. The Soros money must have run out.

Pre-market futures: still up 44 points. WTI down 43 cents but still above $47.


Active Rigs3765185187183

RBN Energy: understanding lease operating expenses (LOE) and how they drive production.

Bakken Update: adding to the oil glut, part 3, Midland Basin production  increases 262% per well in 2015.
  • We continue to see production increases per well in all major US basin
  • The Midland Basin has thrived using newer well designs, as production per well has increased 262% from 2014 to 2015
  • We expect further growth in the Permian as lower well costs and increasing production provides the possibility of a significant improvement in the coming years

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