Skip to content
Subscriber Only

Bakken Shale Getting Back ‘In-the-Money’ With U.S. Oil Nearing $70

  • Break-evens on top-quartile wells have dropped to $41 to $50
  • A lack of gas pipelines still poses trouble for oil production
Video player cover image

Oil Price Increase a 'Nuisance' Not a Big Change, Says Strategist

With breakthroughs in drilling technology reducing costs and crude oil prices near $70 a barrel, wells in North Dakota are turning into cash cows.

The cost of getting oil and gas to the surface in North Dakota’s Bakken field has fallen, recently hitting $41 to $50 a barrel for the top-quartile wells in the region, according to a Bloomberg New Energy Finance report. Challenges still remain in the region, which is plagued by a lack of gas pipelines to take the fuel to more-promising markets, leading to an increase in flaring, the practice of burning the gas coming out of oil wells.