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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (841342)	3/9/2015 1:02:20 PM
From: Brumar89	Respond to of 1572506

Fortunately, the govt doesn't have to abide by accounting rules. I have no idea where the bottom of this cycle will be. I just read an optimistic piece in Forbes based on an interview with Harold Hamm. Gotta love him, but he's been over optimistic in the past: http://www.forbes.com/sites/christopherhelman/2015/03/09/welcome-to-cowboyistan-fracking-king-harold-hamms-plan-for-u-s-domination-of-global-oil/8/ .............. It used to be that Bakken wells needed $48 per barrel oil prices to break even, he says. But as drilling costs come down, the new break-even mark will be more like $40. “Back in 2003 it took us 45 days to drill a Bakken well,” says Hamm. “Now we can do it in 17. In five years we’ve gone from drilling wells that average 350,000 barrels over their lifetime, to where now we average 750,000 barrels. And remember that’s just with today’s technology. We keep learning more. We keep getting better.” .................