West Africa Ebola Outbreak. When the deadly Ebola outbreak erupted in West Africa in early 2014, Direct Relief responded â as aggressively and expansively as possible â sending more than 80 emergency shipments, or approximately $40 million in medical aid, to more than 1,000 hospitals and clinics throughout Liberia, Guinea, and Sierra Leone.
Of the 345 horizontal wells Oxy planned to drill in 2014, 172 were targeted at the Permian Basin. The companyâs average daily production of crude oil totaled about 153,000 barrels a day at the end of 2014, up by about 2% year-over-year. The average realized price for all its U.S. barrels, however, dropped from $104.30 to $90.57 year-over-year for the third quarter. In its 2013 annual report, Oxy reported revenue per U.S. barrel of oil equivalent (boe) of $64.48 and production costs of $14.43 per boe. Other expenses, including DD&A, resulted in pretax income per boe of $19.54. U.S. production costs dropped by $3.00 a barrel year-over-year in 2013. Apache Corp. (NYSE: APA) reported 2013 production of around 90,000 barrels a day from its Permian Basin operations.
Once Saudi Arabia is happy that it's squeezed out enough marginal players out it would make sense to step off the gas and let oil prices rise, maybe to $80 or $90 per barrel where it wouldn't be economical to just ramp up shale production again.ussia Crude Oil Production data by YCharts How Saudi Arabia is breaking the oil market When OPEC announced it wouldn't reduce its oil production quota from 30 million barrels per day last summer it started the decline we've seen in oil prices.