Tue, Nov 25, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Oil, Price Watch more

A Texas oil bubble could pop due to low prices

Posted on 04 November 2013

Bryan Sheffield, a third-generation oil wildcatter in Texas’ Permian Basin, knows what he’ll do if crude drops to $80 a barrel: shut down half his drilling rigs and go on a takeover hunt for weaker rivals.
He’s among producers who have invested $150 billion in the Permian since 2010, seeking a piece of a shale-oil trove estimated to be valued at as much as $5 trillion. As the money pours in, risks of a bust are mounting; some analysts forecast that crude is heading down to $70 a barrel next year………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 38109 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
November 2014
S M T W T F S
« Oct    
 1
2345678
9101112131415
16171819202122
23242526272829
30