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Is This The Beginning Of The End For Texas Oil?
Is This The Beginning Of The End For Texas Oil?
Time of issue : 2020-03-20 09:38:00
In a rather revealing slide from the Dallas Fed survey, the average price that a driller needs to simply cover operating expenses (let alone earn a return) ranged from $23 in the Eagle Ford to $36 in “other” shale basins. In other words, with WTI currently trading below $25 per barrel, the “average” shale driller is not even covering the cost of keeping shale wells online.
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