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It wasn’t uncommon over the last few years to hear shale executives brag about how their wells were profitable even with oil under $40 per barrel. But often those figures didn’t include the cost of land acquisition, or transportation. Or, while individual wells might make a return, the company was ignoring the cost of producing in other less desirable locations. At the end of the day, much of the industry was not turning a profit, even when oil prices traded north of $50 per barrel.
According to the Wall Street Journal and consulting firm R.S. Energy Group, true breakeven prices that incorporate costs such as land acquisition come out to about $51 per barrel in the Permian, $57 per barrel in the Eagle Ford, and $64 in the Bakken.
Pay walledBig words from Maersk, but little in the way of how. Welcome nonetheless.
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When you google for the title, you get even to the ft article, but also others:Pay walled
I wonder if CoolSeal uses the same sort of technology.Something that yall may not have encountered but seems relevant in the discussion of CCS here is of the recent developments in radiative cooling materials. These are really interesting to me because they exploit the only way I know of that heat can actually be *removed* from the Earth.
Basically, there is a range of frequencies in which energy (heat) can be transmitted directly through our atmosphere and expelled in to the cold vacuum of space. This has to do with the nature of water vapor bonds and is an important natural balance to the warming effect of greenhouse gases to keep our planet from overheating. But I see it as a potential alternative to CCS: you either remove CO2 and cool the planet down, or you keep the CO2 and remove the heat.
New materials have emerged in recent years that "translate" energy in to these frequencies: Efficient Air-Conditioning Beams Heat Into Space
What's neat is that a lot of groups are pursuing these materials and some of them are quite low-cost and amenable to roll-to-roll production. I think their cooling power at the moment is on the order of 300W / square meter, so in our current energy landscape it's still probably a better investment to purchase solar panels, but I can see these becoming really important in the near future.
According to the Wall Street Journal and consulting firm R.S. Energy Group, true breakeven prices that incorporate costs such as land acquisition come out to about $51 per barrel in the Permian, $57 per barrel in the Eagle Ford, and $64 in the Bakken.
Rates are plummeting so fracking can continue? Yay, we're the swing producer!EIA reported a 7.3M barrel draw down in crude stock. This should be a bullish signal, but the oil price is falling in spite of this.
Oil prices surge more than 4% as OPEC nears deal to cut outputThese guys will "come together" somewhat one more time on a cut, then it's every pumper for themselves all the way to the end.
Imagine if someone told you 10 years ago that OPEC would be dead before 2020. Delightful.
Oil drops as OPEC makes supply cut dependent on Russian support