There is no longer a meaningful 'break-even price of oil' in the Permian because oil, natural gas liquids, and natural gas are co-produced at the wellhead; the relevant metric is the combined break-even of all three, so high gas prices could turn oil into a near-free 'nuisance byproduct.'
definitionpending
Speaker
DoombergEvidence Quote
“If natural gas in the Perian today were $5 a million BTU, 12-mon strip... the oil would become the nuisance byproduct that people would look to give away.”
Source
Russia's Energy Deal With China Changes Everything - EU 'Biggest Loser': Doomberg— Commodity CultureCreated: 6/18/2026, 1:57:45 PM
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