The West Texas Intermediate (WTI) oil price companies need to profitably drill a new well in the U.S. is increasing, according to the Dallas Fed Energy Survey. In the organization’s first quarter 2022 report, it was revealed that firms needed $56 per barrel on average to profitably drill in the country. Across regions, average breakeven prices to profitably drill a new well ranged from $48 per barrel to $69 per barrel, with breakeven prices in the Permian Basin averaging $52 per barrel. Eagle Ford drilling was shown to have the lowest breakeven price at $48 per barrel, and ‘other U.S. shale’ had the highest at $69 per barrel. Going back to the first quarter 2021 Dallas Fed Energy Survey, it was found that companies needed $52 per barrel on average […]