Thursday, November 21, 2013

Report - Falling Prices Not Affecting Bakken Output

Reuters article out today analyzes the effect of falling local cash oil prices on overall production trends in the Bakken. According to the article, multiple factors are keeping output levels stable, including falling operational costs, increasingly efficient well technology, rising reserve estimates and aggressive forward hedging programs. Analysts surveyed stated prices would have to continue a sustained decline to $70 a barrel or lower to hamper near-term spending levels. More

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