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Title : The Energy And Market Page, T+160 -- June 29, 2017 -- Peak Oil? What Peak Oil?
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The Energy And Market Page, T+160 -- June 29, 2017 -- Peak Oil? What Peak Oil?

Argentina's YPF says technology lowering its shale costs. Data points from Reuters:

• longer horizontals and technology improvement lowering costs
• problem: lack of infrastructure in its most productive shale field: the remote Vaca Muerta play
• break-even price: $43/bbl
• development costs are $12.9/bbl and expected to fall to $10 next year
• $10 is world-class compared with the Permian shale
• YPF produces 40,000 bopd; Chevron produces another 20,000 bopd
• only 2 of Vaca Muert's 19 concessions have moved from pilot to production

Dallas Fed: business activity for oilfield services highest it's been in five quarters. Data points from Rigzone:

• labor market indexes overall (for oil and gas exploration and production firms and oilfield services firms) increased
• improving indices include rising employment, employees hours, wages and benefits
• employment growth was driven by oilfield services firms 
• 67 percent of respondents expect the oil market to come into balance in 2018 or sooner
• 55 percent of respondents believe OPEC will continue to limit its oil production beyond March 2018; 45 percent believe OPEC will not
• on average, respondents expect OPEC will produce 32.3 million barrels of crude oil per day in 2H 2017
• 87 out of 115 executives said they are looking to use their internal cash flow to finance increased activity

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