We’re just past the halfway mark of the week and the year. Many will argue that the $50 per barrel level is the halfway point between the range that WTI belongs ($45 - $55). We’re at the halfway point for the hedges that most oil producers had on for 2015.
Advancing technology has made a lot of the unconventional drilling much more efficient and cost effective. As long as WTI prices stay around $60 or higher, we’re going to keep on drilling and literally squeezing more out of a rock.