Texas Oil: Good News--Bad News

74OA

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1:38p, 2/19/17

AG

Massive increases in efficiency push shale break-even down to ~$35, preserving the industry's profitability, but the massive automation that is driving the efficiency has killed a lot of industry jobs: American Ingenuity

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Satellite of Love

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9:25p, 2/19/17

Down to $35? You high?

aggies12thman

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In reply to 74OA • 9:07a, 2/20/17

AG

74OA said:
Massive increases in efficiency push shale break-even down to $35, preserving the industry's profitability, but the massive automation that is driving the efficiency has killed a lot of industry jobs: American Ingenuity

What's the bad news?

Sounds like the oil industry is doing what every other industry does.

7

74OA

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In reply to aggies12thman • 1:18p, 2/20/17

AG

Bad news for the thousands of laid off oil field workers is one of the main points of the article..........

74OA

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In reply to Satellite of Love • 1:19p, 2/20/17

AG

Satellite of Love said:
Down to $35? You high?

"Some of the best wells here in the Permian Basin that three years ago required an oil price of over $60 a barrel for an operator to break even now need about $35, well below the current price of about $53."

RK

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2:03p, 2/20/17

AG

so the best wells in an area have a lesser hurdle? hopefully operators will only drill the best wells going forward...