i think I’ve read that the trend is up for the majors but down for the minors.
You would have to show me that. Maybe if they were paying too much before.
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here is anecdotal evidence.
http://www.reuters.com/article/2013/10/18/shale-usa-idUSL6N0I819G20131018
Continental has one of the most successful track records in the shale business.
The company has pioneered a highly efficient, assembly-line approach to drilling and fracturing in the Bakken formation that cut costs and raised production quickly. It claims to be able to achieve rates of return of over 20 percent on a typical shale well with prices as low as $60 per barrel.
If Continental can bring the same approach to SCOOP, the state’s oil and liquids output is set to rise rapidly.
That is discussing production costs, not replacement reserve cost.