At what price is shale oil profitable?

At what price is shale oil profitable?

In top two U.S. shale fields, oil and gas companies are profitable in the $30 per barrel to low $40s per barrel range, according to data firm Rystad Energy. This year’s higher prices could push the shale group’s cash from operations up by 32%, Rystad said.

What is the breakeven price of oil?

In 2018, we estimated an average breakeven price for tight oil of $47 per barrel and potential supply of 22 million bpd. The breakeven price for tight oil has continued to fall, reaching a current average of $37 per barrel.

What is Saudi breakeven oil price?

65.7 U.S. dollars per barrel
The projected fiscal breakeven oil price in Saudi Arabia in 20221 was 65.7 U.S. dollars per barrel. This was a decrease from 76.2 U.S. dollars per barrel in 2021.

What is the break-even oil price for drilling the Bakken?

As of January 2015, estimates varied on the break-even oil price for drilling Bakken wells. The North Dakota Department of Natural Resources estimated overall break-even to be just below US$40 per barrel.

What is the Bakken formation?

The Bakken formation has emerged in recent years as one of the most important sources of new oil production in the United States. Most Bakken drilling and production has been in North Dakota, although the formation also extends into Montana and the Canadian provinces of Saskatchewan and Manitoba.

Will secondary recovery drive the future of the Bakken?

^ US Energy Information Administration, World shale gas, 17 May 2013. ^ Secondary recovery will drive the future of the Bakken Archived September 26, 2013, at the Wayback Machine, Oil and Gas Inquirer, 2013.

What happened to the Bakken in North Dakota?

The Parshall Oil Field discovery, combined with other factors, including an oil-drilling tax break enacted by the state of North Dakota in 2007, shifted attention in the Bakken from Montana to the North Dakota side. The number of wells drilled in the North Dakota Bakken jumped from 300 in 2006 to 457 in 2007.