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Category: Costs

CERAWEEK-U.S. fracking costs falling fast, may keep fields in play

April 28, 2015 Posted by Chris Wysong

Fields that once looked uncompetitive after the oil price crash are still active as fracking costs are falling faster than expected. CERAWEEK-U.S. fracking costs falling fast, may keep fields in play By: Anna Driver (Reuters) HOUSTON, April 22 (Reuters) - U.S. oil and natural gas companies have pushed down costs of fracking a shale well faster than expected, and if the trend holds up it could allow producers to keep working in oilfields that just months ago looked uncompetitive after the oil price crash. A more than 50 percent fall in the price of crude oil since June has left oil and gas producers insisting on steep price cuts from oilfield service companies that provide everything from drilling rigs to hydraulic fracturing. Oil is trading around $55 a barrel, and most U.S. shale fields are seen as having break-even costs of $40-$70 a barrel. In fourth-quarter earnings calls, operators initially were looking for prices cuts for services like fracking of around 20 percent. Now those

Posted in Shale, Fracking, Costs
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