[thackney]

They have some production that cheap, but they didn’t spend $17 billion on Manifa for a whim. That is what new production is costing them.

[Zhang Fei]

They have some production that cheap, but they didn’t spend $17 billion on Manifa for a whim.

Manifa is 1/10 Saudi Arabia's daily production. It's a shallow water well, so cash costs should be low. Freeport McMoran's deep water GOM cash cost was $12.