Cash expenses per boe - April 27

[dan_s]

This morning I received a report from Morgan Stanley's top energy sector analyst.
It included a chart showing the estimated cash expenses per boe of production for the upstream companies that they cover.
Here are the Top Ten with the lowest cash expenses (Lease Operating Expenses + G&A + interest expense) per boe of production. In other words these company have the best chance of surviving a long period of low oil prices. All ten have cash expense under $13/boe.
Listed from lowest $/boe to highest
> XEC (Cimarex) is lowest at approximately $8.50/boe.
> FANG
> EOG
> PE
> PXD
> CPE
> CLR
> NBL
> DVN
> CXO

8 of the 10 are in our Sweet 16 and NBL and DVN are former Sweet 16 members. Keep in mind that except for CLR, all of them have a lot of oil hedged are much higher oil prices than we have today.