{"id":1869,"date":"2014-11-20T16:35:57","date_gmt":"2014-11-20T21:35:57","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1869"},"modified":"2014-11-20T16:35:57","modified_gmt":"2014-11-20T21:35:57","slug":"oil-at-75-means-patches-of-texas-shale-turn-unprofitable-bloomberg","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1869","title":{"rendered":"Oil at $75 Means Patches of Texas Shale Turn Unprofitable – Bloomberg"},"content":{"rendered":"

Oil at $75 Means Patches of Texas Shale Turn Unprofitable – Bloomberg<\/a>.<\/p>\n

With crude at $75 a barrel, the price Goldman Sachs Group Inc. says will be the average in the first three months of next year,\u00a019<\/a>\u00a0U.S. shale regions are no longer profitable, according to data compiled by Bloomberg New Energy Finance.<\/p>\n

Those areas, which include parts of the Eaglebine and Eagle Ford in East and South\u00a0Texas<\/a>, pumped about 413,000 barrels a day, according to the latest data available from Drillinginfo Inc. and company presentations. That compares with the 1.03 million-barrel gain in daily national output over the past year, government figures show.<\/p>\n

The expansion of U.S. oil\u00a0supply<\/a>\u00a0to more than 9 million barrels a day is contributing to a global glut, driving down prices by as much as 32 percent since June. The data compiled by BNEF, which take into account the costs of drilling, royalties and transportation, show that certain shale patches fail to make money at the current price. Companies such as\u00a0SandRidge Energy Inc. (SD)<\/a>\u00a0and\u00a0Goodrich Petroleum Corp. (GDP)<\/a>\u00a0said they expect to pump more oil for less money so they can withstand the rout.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil at $75 Means Patches of Texas Shale Turn Unprofitable – Bloomberg. With crude at $75 a barrel, the price Goldman Sachs Group Inc. says will be the average in the first three months of next year,\u00a019\u00a0U.S. shale regions are no longer profitable, according to data compiled by Bloomberg New Energy Finance. Those areas, which […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[592,596,723,798],"class_list":["post-1869","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-oil-price","tag-oil-supply","tag-shale-oil","tag-tight-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1869"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1869\/revisions"}],"predecessor-version":[{"id":1870,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1869\/revisions\/1870"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}