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[littlejohn]

REI, article link shows why 15 oil rigs

dropped out last week alone

across oil sector...

REI is the highest percentage oil

producer that I follow, by decent amount...

https://seekingalpha.com/article/4609171-ring-energy-rei-receiving-low-realized-prices-for-non-oil-production?utm_source=stck.pro&utm_medium=referral

Per BOE cost structure of say roughly

$4 million to drill a moderately, deep oil

well is a cost for hitting oil...

Vertical wells may be far less

than half that cost...

Liquids production is a byproduct of

the oil well drilled...

A natural gas well drilled may cost

up to $50,000 as a comparison on

BOE cost structures across sector...

Oil and gas companies hedge ahead

because forward pricing can and often

yields higher payout on production...


So we watch...LJ