Curious where you got that cost from?

A 2023 CNBC article had much higher:

"Instead, the surge is concentrated in the Permian Basin region of Texas and New Mexico, where production costs are among the lowest in the country, said Alexandre Ramos-Peon, head of shale well research at Rystad Energy. Oil from the Permian Basin costs an average of $42 a barrel to produce, he said, with North Dakota in the high $50s to $60. "

I imagine the cost to produce has only gone up a bit in the past 1.5 years with labor costs, but I have no idea.

Reply to this note

Please Login to reply.

Discussion

Was listing to some oil trader in the news that was going on about how producers keep pumping until they hit cost of production

Gotcha.