{"id":4354,"date":"2015-01-10T13:28:33","date_gmt":"2015-01-10T18:28:33","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4354"},"modified":"2015-01-10T13:28:33","modified_gmt":"2015-01-10T18:28:33","slug":"north-dakota-mineral-resources-dept-admits-half-its-shale-regions-below-breakeven","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4354","title":{"rendered":"North Dakota Mineral Resources Dept Admits Half Its Shale Regions Below Breakeven"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2015-01-10\/north-dakota-mineral-resources-dept-admits-half-its-shale-regions-below-breakeven\" target=\"_blank\">North Dakota Mineral Resources Dept Admits Half Its Shale Regions Below Breakeven<\/a><\/h3>\n<p>While talking heads and TV personalities reassure the investing public that low oil prices are &#8220;unambiguously awesome&#8221; for everyone, it seems the cracks in this narrative are starting to show. From falling wages, surging job cuts, plunging rig counts, and crashing capex, it&#8217;s becoming a lot harder to &#8216;pretend&#8217; that everything&#8217;s fine. One wonders, when the companies themselves are slashing workweeks and cutting rig counts, when will &#8216;investors&#8217; believe&#8230; perhaps now that<strong>\u00a0Lynn Helms, Director of the North Dakota Department of Mineral Resources explains to the House Appropriations Committee that at least half of its shale regions are already below breakeven<\/strong>.<\/p>\n<p>&nbsp;<\/p>\n<p>From a 12 page presentation&#8230;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/01\/20150110_ND1.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/01\/20150110_ND1_0.jpg\" alt=\"\" width=\"600\" height=\"448\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>The following shale regions are below breakevens (at which new drilling would cease)&#8230;<\/p>\n<div>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>North Dakota Mineral Resources Dept Admits Half Its Shale Regions Below Breakeven While talking heads and TV personalities reassure the investing public that low oil prices are &#8220;unambiguously awesome&#8221; for everyone, it seems the cracks in this narrative are starting to show. From falling wages, surging job cuts, plunging rig counts, and crashing capex, it&#8217;s [&hellip;]<\/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":[3],"tags":[1395,1775,2121,723],"class_list":["post-4354","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-north-dakota","tag-oil-price-collapse","tag-oil-rig-count","tag-shale-oil"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4354","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=4354"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4354\/revisions"}],"predecessor-version":[{"id":4355,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4354\/revisions\/4355"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}