And there was much rejoicing in the land.... Gas Prices

[03mustangdude]

Those prices are nuts!!! I would have thought they'd be MUCH lower.

Okay, now I'll shut my face.

in 2006 breakeven was 31.7 and 21.2 for russia.

Then everyone went apeshit

They still have the lowest cost to get it out of the ground, and arent a democratic country so they could theoretically chop the budget in half.

[no4njnk]

Anyone know the current level of crude prices US and Russia need to be at?

[Ruffdaddy]

Anyone know the current level of crude prices US and Russia need to be at?

Us doesnt balance budget with oil. It would be the break even price to recover...and thats very dependent on the play as well as where the well is located in the play.

[Strychnine]

Those prices are nuts!!! I would have thought they'd be MUCH lower.

Okay, now I'll shut my face.

Remember, that's not breakeven per field or marginal price per barrel. That's what their entire govt needs to sustain the subsidies and social programs they give out like sand in the desert.

But yeah I was still surprised to hear numbers that high. I knew Saudi was in the $100 range but $130... or $180?!

[slow99]

I think Saudi's reserves are now more like $700 B.

[Ruffdaddy]

Yep...i was reading about this the other day to get an idea how long they can milk it before they have to truly create a plan.

http://www.bloomberg.com/news/articles/2015-06-28/saudi-foreign-reserves-drop-for-fourth-month-to-672-billion

[Sean88gt]

Anyone know the current level of crude prices US and Russia need to be at?

That question needs to be more focused. Need to be at for what?

[Cooter]

That question needs to be more focused. Need to be at for what?

A Raptor in every driveway

[no4njnk]

That question needs to be more focused. Need to be at for what?

Break even

[Strychnine]

Break even

Because the US doesn't have nationalized oil companies there isn't a real comparison. The Saudi $100 figure is what the govt there needs to balance their national budget because it is (partially) based on oil revenue - they own Aramco.

The US govt doesn't own any oil companies, so there can't be a line item for oil revenue in the annual budget.

[03mustangdude]

few months old doubt much has changed.

[GrayStangGT]

A Raptor in every driveway

Amen

[Sean88gt]

A Raptor in every driveway

Between 85 and a solid one hundo-fiddeen.

[KBScobravert]

I'll agree with the low side of that. Triple digits bing out the Hellcats!

The high side would likely keep me around in the field.

[KBScobravert]

Are you looking to move up? I heard we can be company men within weeks!

I just want a month of full rotations. Even if I am stuck on dirt. Lol