Via Barron's (paywalled), archived here: https://archive.is/qPkDG
2 replies (most recent on top)
We disclosed at the 4Q2021 earnings call that our breakeven costs are now $41 per barrel, and we are continuing to drive the cost to $35 per barrel.
Darren Wood - 4Q2021 Statement
As a result of our cost reductions, improved efficiencies, and capital discipline, we’ve lowered our Brent breakeven price to $41 per barrel. We’re continuing to drive that down even more, expecting to average $35 per barrel between now and 2027.
Wow.
Follow the data points. Follow the data points. Follow the data points.
If this analyst is correct with $30 per barrel break even funding levels says a lot how much profit & free cash flow Devon Energy is going to potentially generate in 2022 with the price of WTI > $90/bl & today spot price is $94.89 bl.
What other companies in the oil space have a break even of $30 per barrel?
This is the kind of data that every oil company should provide to shareholders as part of the quarterly reports.
Disclosure: Unfortunately not a Devon shareholder but XOM, SHEL, BP, & MRO shareholder.