“We run those cases at $50 and $75 a barrel. And at $75 a barrel real over a very long period of time, and $50 is the base case that we run everything at. That’s how we look at our projects[.]”
Oil & Gas News
“…goes to the undisclosed high bidder in New Mexico’s Bureau of Land Management lease auction last week on a 1,180 acre tract in Eddy County, New Mexico. The winning bid, actually possibly the ONLY bid, was $102,086,000.00, or $86,515 an acre (click for article). That beats Concho’s record of something like $79,000 an acre in its RSP acquisition and sets a new record, of sorts, for the right to develop unconventional shaley carbonates in the Permian Basin. Some reports suggest some of the stuff in this auction went for over $90K an acre.”
“[B]ecause ethanol packs less energy per gallon than gasoline does, vehicle owners can expect to get even lower fuel mileage from the expansion of E15 fuel (a blend of 15% ethanol with 85% gasoline) under the new mandate to include more ethanol in automotive fuels, which would be 4% to 5% less than they would achieve if they only filled their vehicles with 100% gasoline. Today’s vehicle owners already pay a fuel efficiency penalty of 3% to 4% lower gas mileage from the E10 ethanol-gasoline fuel blend[.]”
House Farm Bill Link.
Senate Farm Bill Link.
(As of 12/14/2018, the Bill is going to reconciliation.)
“Thanks to these grants, the roads in the Permian Basin will be safer and immediate needs will be addressed. I’m proud to have supported both grant applications, and I’m grateful to the Trump administration for supporting Texans in the Permian Basin.”
“The cost of shale production has fallen so much since then that it’s becoming a safe haven for major oil companies in times of volatile prices, providing rapid, reliable growth and quick returns even with crude trading for just over $50 a barrel[.]”