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> The ND formations are profitable for existing wells down to $36 http://www.startribune.com/lifestyle/health/287422241.html http://www.startribune.com/lifesty
by altcognito 11y ago
> The ND formations are profitable for existing wells down to $36
http://www.startribune.com/lifestyle/health/287422241.html http://www.startribune.com/lifestyle/health/287422241.html
Nonsense. Even in ND they start hedging at $52, and the fact that the number of oil rigs is shrinking is pretty obvious evidence that the $52 number is just PR to reassure investors. I don't think it's a ton more than $52, but it's not $36. We're seeing oil prices recover, so it might be all a moot point soon.
- protomyth 11y agohttp://fortune.com/north-dakota-fracking/ http://fortune.com/north-dakota-fracking/ "Even if oil prices stay low, the Watford City/Williston area may be the last in the region to feel the pain. It is in the “sweet spot” of the Bakken, with the breakeven price for production about $36 a barrel, according to the state." The Star Tribune hates fracking and is quoting the high number for the region, not the Bakken numbers.
- altcognito 11y agoI think the proof is in the fact that they were letting the oil wells lapse. That being said, it's all academic now that oil prices are recovering.