Ridgewood Finds Oil  for $20 pb

Ridgewood Finds Oil for $20 pb

The US Ridgewood Energy, focused on the deepwater Gulf of Mexico, closed a nearly $2 billion private equity fund that it contends will still prove profitable. As other companies slow down their expensive deepwater investments, Ridgewood says it can find and develop oil there for $20 a barrel or less, although the break even is closer to $35 a barrel with other cost factors, Fuelfix reported.


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