Shell pegs shale breakeven at under $50/b

摘要

London—Shell has seen the breakeven cost of its US shale operations fall to below $50/b, while new deepwater projects are at even lower levels, as a result of ongoing cost cutting and operating efficiencies during the oil price downturn, the company’s upstream chief said Wednesday. New technology, tighter operating practices and falling service sector costs have seen Shell’s US drilling and completion costs halve since 2013 from around $12 million to $6 million per well, Andy Brown told the Oil & Money conference in London.