Shame on you Fraud Street! Too bad, so sad, let oil crash, bs costs are what this report says they are! More lies!

$5T Permian Basin boom threatened by falling crude prices • 8:25 AM

  • The Permian Basin is all the rage on Wall Street, but oil prices need to stay high enough to support the current rate of exploratory drilling - and prices for West Texas crude have dropped below $100/bbl for athird straight weekly decline.
  • The Permian remains the largest U.S. oil producer, with output averaging ~1.3M bbl/day and rising, but it's also the most expensive U.S. shale formation in which to drill - meaning the boom could become a bust if crude moves near $70/bbl, as some analysts predict.
  • If oil drops to $80, wells in some parts of the Permian will become money-losers; wells drilled in the Cline Shale and Northern Mississippian Lime layers of the Permian need $96 oil to break even.
  • Among top Permian producers: PXDFANGCXOAPAATHLOXY,XOMEOGXECAPCCVXCOPCWEI.
  • Oil ETFs: OILUSODBOOLOUSLCRUDUCODTOSCOSZODNO,UWTIDWTI.