01.11.2013 - A Texas oil bubble could pop due to low prices
Energy producers on average need oil prices of about $96 a barrel to break even on wells drilled in Permian layers known as the Cline Shale and Mississippi Lime, says Mike Kelly, an analyst at Global Hunter Securities. Other areas of the Permian need a price of just $70 to $74. That compares with average break-even prices of about $78 a barrel in the Eagle Ford Shale a few hundred miles east of the Permian and $84 in the Bakken of North Dakota.........................Full Article: Source