24/7 Wall St.| Paul Ausick
Favorable market conditions combined with greater operational efficiency sees profits rise for shale oil companies.
If crude oil prices remain above $55 a barrel this year (as they are expected to do), oil exploration and production (E&P) companies operating in U.S. oil fields expect to continue earning nice profits. To post a profit on a new well, E&P companies need a WTI price of $55 a barrel. The data were reported this morning by the Federal Reserve Bank of Dallas based on a survey of 136 oil and gas firms.
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