Yup.
That’s what makes today’s oil prices so out of line, there are few places where you can take crude out of the ground and not be losing money at $30 a barrel now.
They’re saying that at some fields in North Dakota, it’s as cheap as $25 per barrel.
“that’s what makes today’s oil prices so out of line, there are few places where you can take crude out of the ground and not be losing money at $30 a barrel now.”
That is untrue.
You are obviously confusing the cost to drill & complete wells with the cost to operate.
Very few wells in the world, save very marginal ones, cost $30/b or more to produce.