By John Stavinoha, Andrew Zeve and Austin Lee (June 13, 2017, 12:41 PM EDT) -- As the global commodity price rout continues, operators have become hypersensitive to increasing efficiencies in order to lower break-even prices. Following a recovery in early 2016, oil prices have remained somewhat range-bound between roughly $45 and $55 per barrel for the past twelve months.
A corresponding decrease in service prices has offered some relief, but this alone has proven unsustainable for many producers to continue their current drilling plans. While the geological attributes of formations found in the Permian Basin offer unique opportunities to attain break-even prices in the $30s and $40s, those operating elsewhere continue to search for other efficiencies...
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