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re: Oil dive deepens to 12-year low; could hit $20 on China fears
Posted on 1/12/16 at 5:10 pm to LSUChamp06
Posted on 1/12/16 at 5:10 pm to LSUChamp06
quote:
No. That's still low. The optimal range would be $65-$85 for oil and in the $4 range for natural gas.
Do you have objective research to support these numbers or did you just pull them out your butt?
2
Posted on 1/12/16 at 5:52 pm to 13SaintTiger
quote:
Do you have objective research to support these numbers or did you just pull them out your butt?
Break even for US shale plays are +/- $70.
Posted on 1/12/16 at 5:55 pm to yellowfin
quote:
we'll need start up money, probably some kinda govt grant available to get started then with all the farming subsidies we'll be rich
i have some capital that i can invest
Posted on 1/12/16 at 6:04 pm to 13SaintTiger
quote:
13SaintTiger
And the physician assistant speaks again. Be honest, are you upvoting your own posts?
Posted on 1/12/16 at 6:06 pm to SlowFlowPro
Central Cali sounds great
Posted on 1/12/16 at 6:08 pm to TigersHuskers
quote:
What are the chances we ever see oil over $100 a barrel again in the future.
well, most forecasts predict $20s into the year 2020, so not anytime soon, if ever.
Posted on 1/12/16 at 6:18 pm to Asgard Device
quote:
O&G workers' lifestyles? You could then pay over 2 million people $100k.
I get the joke, but I work at a machine shop in Lafayette and we unfortunately do a great deal of oilfield related work. There aren't any truck nuts, f-250s, etc here. Just a bunch of nice people with families that are about to lose their jobs.
Posted on 1/12/16 at 6:44 pm to slackster
quote:
slackster
I assume you aren't able to answer the question?
Posted on 1/12/16 at 6:47 pm to jmcwhrter
Truth, but the OT is gonna OT.
Posted on 1/12/16 at 6:50 pm to Janky
Oil is so low I shite my pants in line at Taco Bell today for lunch
Posted on 1/12/16 at 7:01 pm to rocket31
quote:
well, most forecasts predict $20s into the year 2020, so not anytime soon, if ever.
Huh? Where are you getting that information?
This is from the WSJ article published today:
Posted on 1/12/16 at 7:08 pm to 13SaintTiger
quote:
I assume you aren't able to answer the question?
He answered the question already. Many wells are profitable to maintain at even $10 per barrel, but maintenance is not the majority of the costs - that lies with exploration and drilling - so the true breakeven for an entire play tends to be north of $60 in the US.
ETA: Shale plays in North America have been a major contributor to the oversupply issues, and this chart from Business Insider in December 2014 shows typical breakeven prices at different shale plays:
This post was edited on 1/12/16 at 7:11 pm
Posted on 1/12/16 at 7:11 pm to slackster
Morgan Stanley, among others, have warned as much
Posted on 1/12/16 at 7:16 pm to redstick13
quote:
I believe Saudi is around $10 and the rest of the ME in the $20 range
Both Saudi and Kuwait are actually sub $10. UAE and Iraq run between 10 and 12.
Posted on 1/12/16 at 7:21 pm to slackster
quote:
e answered the question already. Many wells are profitable to maintain at even $10 per barrel, but maintenance is not the majority of the costs - that lies with exploration and drilling - so the true breakeven for an entire play tends to be north of $60 in the US.
No he didn't. I asked for objective research to back the claims. I just find it hard to believe that filling up a 15 gallon tank for $45 is optimal.
Posted on 1/12/16 at 7:25 pm to 13SaintTiger
Filling up for free would be ideal for me, but for the local economy that wouldnt help a whole lot.
Getting free medical services would be ideal, but logic would tell you something isn't correct.
Getting free medical services would be ideal, but logic would tell you something isn't correct.
This post was edited on 1/12/16 at 7:26 pm
Posted on 1/12/16 at 7:27 pm to fightin tigers
quote:
Filling up for free would be ideal for me, but for the local economy that would help a whole lot.
Getting free medical services would be ideal, but logic would tell you something isn't correct.
What are you blabbing on about? What does a free service have to do with this discussion?
Posted on 1/12/16 at 7:30 pm to 13SaintTiger
You're trying to justify prices off of what you believe they should be.
There are break even prices for pulling oil out the ground. Royalties have to be paid and well as investments returned.
There are break even prices for pulling oil out the ground. Royalties have to be paid and well as investments returned.
Posted on 1/12/16 at 7:33 pm to fightin tigers
quote:
You're trying to justify prices off of what you believe they should be.
Wut. No I'm not.
quote:
There are break even prices for pulling oil out the ground. Royalties have to be paid and well as investments returned.
Which is why I asked for an objective source to research what the price should be.
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