Can tight oil costs fall enough?

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Report summary

Tight oil producers' initial response to the 2014 price collapse was to cut costs. After the initial WTI price shock, producers worked aggressively to lower the cost of supply from onshore US tight oil plays. The more recent downward price movements are indeed cause for concern, but our models suggest that the additional cost savings required for wells to break even in a prolonged period of US$45/bbl WTI are not unprecedented, and some operators have plans and processes to achieve them.

What's included

This report contains

  • Document

    Can tight oil costs fall enough?

    PDF 292.66 KB

Table of contents

  • Cost cuts to date
  • A late summer shift
  • A new downside scenario
  • Actually making the cut
  • Outlook

Tables and charts

This report includes 4 images and tables including:


  • Can tight oil costs fall enough?: Table 1


  • Changes in average US onshore well costs (2014 to 2015)
  • Prior cost reductions and the additional cuts needed to break even at US$45/bbl
  • Absolute change in D&C needed to break even at US$45/bbl

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