I have no idea what your point is? Other than flat our wrong.
Before you make comments like this you need to consider 1. If you don’t understand what breakeven price is then why are you bothering to blather on? And 2. There are hordes of sources that speak to the $55 - $70 range , and 3. You say I am wrong and then proceed to quote something that doesn’t speak to breakeven prices.
Here are a bunch of quotes randomly pulled :
Bakken crude for June delivery at the Clearbrook, Minnesota hub was bid as low as $85.24 a barrel on Wednesday and offered at $93.69, down 6.5 percent from October levels, according to traders. For now, prices are comfortably above the $68 a barrel breakeven point for a 15 percent rate of return, according to Credit Suisse analysis.
and
Pressure pumping prices, which cover a range of costs associated with fracking a well, have already dipped by up to 25 percent in natural gas-rich basins, with signs of a knock-on effect emerging in the Bakken, according to Barclays analysts. Within the next six months, these costs could fall by as much as 10 percent in the Bakken shale, analysts at Bernstein Research estimate.
Efficient forms of fracking are also helping companies extract more oil from each well, lowering the break-even cost of production, now estimated between $55 and $70 a barrel.
http://www.reuters.com/article/2012/05/17/us-usa-shale-costs-idUSBRE84G06620120517While West Texas Intermediate prices stand at US$91 per barrel, they had slipped to US$77.91 as recently as June, uncomfortably close to the US$55-US$70-per-barrel breakeven cost for a barrel of U.S. shale oil.
http://business.financialpost.com/2012/08/10/tempering-u-s-shale-potential/Players in the Bakken shale report that the cost of drilling a well is between $6 million to $8.5 million and the break even price of the crude produced is estimated to be between $55 to $70 a barrel
http://www.trefis.com/stock/hal/articles/121326/occidental-bails-on-bakken-shale-play-sending-mixed-signals-to-oilfield-services-sector/2012-05-23The wells here, which use the hydraulic fracturing or "hydro-fracking" technology, cost about $8.5 million on average to drill and complete, with break-even pricing linked to market prices at $55 to $70 per barrel.
http://www.thestreet.com/story/11678385/1/oil-giants-pour-billions-into-bakken-shale.htmlOf the 20 shale oil plays Freeman looked at (he excluded the Utica and the Tuscaloosa Marine Shale for lack of data), only Oklahoma's Cana Woodford rich gas shale and the Cleveland-Tonkowa in the Texas Panhandle and Oklahoma don't break even at $65/b WTI, although they do at current prices.
The other 18 earn even some minimal return at $65/b WTI, and some, notably South Texas' Eagle Ford oil and condensate shales, earn quite a bit, breaking even at under $50/b WTI.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/6472640“Our Bakken shale portfolio” a representative for Statoil says, “competes very well with the average of projects across the [onshore North America] group, which would have a breakeven price of about $50-$60 per barrel.”
http://dailyresourcehunter.com/tight-oil-still-profitable-us/Rock, you constantly put down Art Berman, the OilDrum and even little ole' me. It gets tiring. I am not a geologist, never claim to be, and have in fact learned a great deal from professionals like you, but especially over at the oildrum. Why don't you take you virulent attacks over there and instead lighten up on the amateurs here. It is not attractive of you.
Perhaps if you quit making claims that are completely wrong with an air of authority? If you're an amateur then don't pretend to have knowledge you don't. I do not "put down" Art Berman (I’ve actually met him and listened to his arguments with a few executive at a small table), what I do point out is his database isn’t anywhere near what the industry works with which limits the veracity of his claims.