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Break-even (again): From What's Up With That:

Number of the Week: $56.60: According to Platts (subscription required), the energy consulting firm Wood Mackenzie estimates the “weighted average break-even” for a barrel of crude produced from North Dakota shale is $56.60. Generally, the estimates include a modest profit.

Areas with higher estimated costs include: Niobrara (Rockies), $75.5; Canada Oil Sands, $70; Deepwater US, $63; Deepwater Angola, $73; Offshore Nigeria, $64; and Shallow Water Europe, $60. The estimates reviewed did not include Texas. No doubt, the petro-states of OPEC are concerned with hydraulic fracturing in the US. 

The math doesn't work: break-even cost for oil for Canadian oil sands: $70. Canadian oil sands is now selling for $30. Previously posted. 

Active rigs:

	12/18/2017	12/18/2016	12/18/2015	12/18/2014	12/18/2013
Active Rigs	53	40	64	183	188

RBN Energy:

http://ift.tt/2dZyQXu

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