Concho Resources Inc. (CXO)

[56Chevy]

According to the August of 2016 article entitled - Oil drillers making big-money plays in still profitable Permian Basin

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Quote:
"Assets in the Permian, where drilling is still profitable at current prices..."

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Source:
https://www.dallasnews.com/business/energy/2016/08/16/oil-drillers-making-big-money-plays-still-profitable-permian-basin

So what were the current prices for WTI crude mid-August of 2016?

Here is a snap-shot picture for that week:

08/19/16 $48.52
08/18/16 $48.22
08/17/16 $46.79
08/16/16 $46.58
08/15/16 $45.74

Average - $47.17 per bbl.

By comparison here are the late Sept. 2018 WTI prices;

09/28/18 $73.25
09/27/18 $72.12
09/26/18 $71.57
09/25/18 $72.28
09/24/18 $72.08

Average - $72.26 per bbl.

This represents on average a $25.09 per barrel increase, or a whopping 53.26%, since this article was put out.

Bottom line - If they were profitable at $47...they're in hog heaven at $72!

The Permian is arguably not only the best place to invest when it comes to domestic energy but perhaps the only place.

Marker:
Concho Resources Inc (CXO)
$154.29 up 1.54 (1.01%)
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