Gold – the final bubble, page-3693

Milli

BHP cut its drilling on the mainland US in the Shale oil areas by 80% a few months ago.
What does that tell you about the future for Shale oilers?
When I was in Shale oilers the break even point was about 60 - 80usd p/Barrel.
Shale oil wells are expensive to drill around 10 -13 million per well and then there is the transport down to the Storage points or the Gulf.
Shalers will only be hanging on by exploiting their previously drilled wells mostly and they don't last long.
I would expect some company closures or takeovers towards the end of this year in the US shale oilers.
Especially given the Saudi's/Russians are not backing off production and Iran will be online probably this year.