Tracy, you are correct - mostly�..
The �middle easterners� have �lifting cost�, or as others call �production cost of somewhere around $5 bucks a barrel.
Athabasca Canadian Oil Sands are so high cost per barrrel as well as N.D Bakken shale companies, they cannot compete.
On the other hand, the Texas Permian Basin Sprayberry/Wolfcamp production lifting costs are around $8-9 bucks a barrel and those old wells hold �HBP� acreage millions of acres so no lease acquisition costs - We have advanced technology that allows us to drill multiple wells with one a rig on one pad site.
This thing is not over - you know all this stuff but others might be interested.
Yes, I am very familiar with this stuff - I was Division Geophysicist for a Major Oil Company in Midland at one time and assignment in many of the other Oil Provinces.
It ain�t over �til it�s over.Cheers,
George
