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Re: Gas prices
[Re: bill]
#1193832
12/20/14 08:26 AM
12/20/14 08:26 AM
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Joined: Dec 2001
Posts: 13,907
AL
hunterbuck
Booner
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Booner
Joined: Dec 2001
Posts: 13,907
AL
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Some shale producers need $70 a barrel to make it but there are lots of them that can make it at $40 a barrel. If oil goes below $50 we may see some negatives long term but just like the inflated bubble in the stock market that is about to pop, oil needed a market adjustment that reflected increased supply and lower demand. There are a few analysts that are claiming $40/bbl for the shale guys, but that's just not real world. There may be a very small handful of the Texas shale producers that could survive at $40, but that's it. Here's a good article from the Wall Street Journal from a couple of months ago that's more in line with what those guys tell me, and I've linked a chart that gives each field's profitability basement range. Keep in mind that most of the companies drilling up in the shale zones are considered "wildcatters" and don't have the massive reserves to be able to withstand long periods of losing money.... http://www.wsj.com/articles/energy-boom-can-withstand-steeper-oil-price-drop-1414627471 
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