“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.
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