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NCND | Ah yes once again the similarities between farmers and oil becomes apparent! COP all over board!
The earlier you came to the game the cheaper it is. These guys that show up late and want to play must pay a price.
Eog was original player. They were at 22$ a barrel. That's on initial well which would include lease bonus cost. Now every well they drill after initial one doesn't need a new lease bonus they simply drill well and pay royalty along with operating expense roughly 25%.
That and when all numbers are based on Wall Street analysts I'd take it with grain of salt. I've dealt with plenty of them and they are on average no smarter than the day old rocks I pick in my fields.
Edited by vailcat 12/9/2013 09:12
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Tara, some breakevens for oil fields
