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Apple Inc. Message Board

johnnov22 2 posts  |  Last Activity: 11 hours ago Member since: Sep 29, 2016
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    Permits flat in the Permian

    by johnnov22 16 hours ago
    johnnov22 johnnov22 11 hours ago Flag

    Guessing oil makes a run for $60 sometime in 2018 if the inventories start to dwindle. For now, $45-50 seems to be the clearing price. The industry is burning capital - that can't continue forever.

  • If permits are a good indicator of future drilling - the permit number has been flat at about 400 for several months now - suggesting that the rig count should be flattish as well. Same for North Dakota.

    But of course - everyone is focused on OPEC - seems Saudi Arabia is desperate for a deal -

    Saying that the cost of production is now $45 for Shell in deep water - according to their last presentation - makes prices much over $60 unrealistic in my opinion

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