Here in the Permian, all my information says fracked-gas should continue to grow because of the chemical feedstock involved; lots of rich-gas is being developed (8-10 LBS).
Crude needs to be at around $90/BBL for WTI and over $80/BBL for “Brent-equivalent” to make drilling activity viable.
Keystone PPL II appears to be a victim of this adjustment.
Sucks for me, cuz I need a job out here.
you say crude needs to be at $80 to make drilling viable. and that is true. but it would be viable at much lower price if the government got out of the way of oil producers. most of that high price in the USA is due to taxes and government regulations. many oil drillers also “lease” land or pay royalties to government .that is socialism. how can the government own land and charge leases to drill? that’s socialism .greedy communists. blame the government at all levels for your loss of jobs Americans.