U.S. shale needs much higher oil prices than $50 per barrel, and even higher than the current WTI Crude price in the high $60s, for a “drill, baby, drill” boom, oil tycoon and Trump campaign donor Harold Hamm says. American producers, especially those pumping crude outside the Tier 1 inventory in the best Permian locations, would need an oil price of around $80 per barrel to cover the cost of drilling wells.
“There are a lot of fields that are getting to the point that’s real tough to keep that cost of supply down,”…Harold Hamm: ‘Drill, Baby, Drill’ Needs $80 Oil
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