Saturday, December 13, 2014

What'd You Say The Breakeven Price on Shale Oil Was?

This month's Director's Cut from the North Dakota Industrial Commission:
Sep Sweet Crude Price = $74.85/barrel
Oct Sweet Crude Price = $68.94/barrel
Nov Sweet Crude Price = $60.61/barrel
Today Sweet Crude Price = $41.75/barrel (lowest since March 2009)
(all-time high was $136.29 7/3/2008)....
Rig count in the Williston Basin is set to fall rapidly during the first quarter of 2015.
Production was level from last month to this month.  The next few months might be very interesting.

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