OEF Rapid Review Articles
Record prices for drilling rights in the Permian Basin, the most fertile U.S. shale field – where wells can generate profit with crude selling for less than $40 a barrel – are prompting oil companies and private equity investors to look elsewhere for the next big gushers. Explorers eager to tap the basin’s mile-thick stack of oil-soaked rock layers have paid as much as $60,000 an acre. That marks a 50-fold explosion in deal prices over four years. It also pushes the cost 10 times higher than in the Bakken of North Dakota.
LINK TO THE SOURCE ARTICLE:
Permian Basin: $60,000 An Acre, But A Gold Mine For Oil Drillerstor
