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Costs rise for Permian Basin production

OIL

Average break-even prices in the Permian Basin are expected to rise by $10 to 40-45$/bbl due to dividend pay outs and cost inflation.

  • Costs are expected to go up another 10% to 15% next year while new drilling rig contracts could increase by up by 40%.
  • US shale production is limited by cost increases on drilling rig contracts, drill pipe, diesel and frack sand.
  • Shale companies aim to increase crude production by 5% or 300kbpd this year compared to some oil majors targeting 15% to 20% increases.
  • Estimates for Permian oil production are 8mbpd in 10 years, from the current 5mbpd, and gas production 35bcf/d up from current 20bcf/d.
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