Originally Posted by
flyallnite
OPEC is trying to drive the fracking/pipeline group out of the market, and if they succeed, then oil is back up. But I think they are too late. The infrastructure is already there, they can stop production, then start up again.
Billionaire Shale Pioneer Sees Drilling Slowdown on Oil Price Drop - Bloomberg
Hamm has said in the past that his company can turn a profit at prices of $50 a barrel. Continental plans to boost output by as much as 29 percent next year, while holding spending at 2014 levels, according to a Nov. 6 company presentation. Hamm declined to say how those plans may change if prices fall further.
In the most profitable areas of the Bakken, producers can turn a profit on average with oil prices above $65.03 a barrel, according to Bloomberg New Energy Finance. Prices may fall to $50 a barrel by early next year, according to Wolfe Research LLC.