VelocityShares 3x Inverse Crude Oil ETN (DWT)

[coppercamel]

$15,000,000 to drill a 12,000 ft well and bring it on line. 300,000 bbls @ $50 to pay for the hole. Wells average about 200,000 a year then decline 10-30% a year. So $50 a bbl is break even for what period of time?? Wells may produce for 20+ years. I would like some hard data on this break even price bullshit. I worked in the oil field from 2007-2015 so I have a pretty good idea how much oil the wells drilled by the big players are producing.