HRZ Shale Decision Tree, page-88

Damn it I was going to attach this news to that reply and I forgot. Ole nemesis CoP is looking to prove up it oil in NS. So the exploration campaign they finished in the winter is bearing some fruits. And if you look at these numbers, it will help in putting things into a perspective of resources to be found, capital needed, and possible breakevens. They say below $40 is good for most of their resource. In my experience, below $40 means at or exactly $40. That is for conventional, much lower ongoing drilling capital, exisiting infrastructure and leverage in pipeline capacity. So I leave it to you guys to figure out what each of those is worth on a dollar per barrel basis for 88E's leases. You got that part of the business better framed in your minds than I do mine.

http://www.conocophillips.com/news-...ent-of-prospective-acreage-yet-to-be-drilled/