Shale Ready to Tango with the Saudis
"Back when prices first started to tumble, analysts believed the breakeven price for most shale projects—that is, the oil price companies would need to still turn a profit with their operations—was somewhere near $75 per barrel. Pioneer is now claiming it is operating wells that could still turn a profit with prices under $3 per barrel, putting those projects on par with the bigger conventional fields of Saudi Arabia."
This took two years. What will this look like in five? And how soon before American producers are expanding the Shale Oil Revolution to the wide world?
Tick tock House of Saud, tick tock.