It is worth noting that this chart shows only half-cycle production costs. These are akin to the marginal cost of production in other industries. Simply put, the half-cycle production cost is simply the cost of extracting the oil from the ground at the wellhead. It does not include other costs such as acquiring or leasing the land, home office expenses, and similar things. Thus, the actual amount of money that a company needs to sell its oil for in order to be profitable is higher than the chart above would indicate.
http://seekingalpha.com/article/3451246-the-shale-oil-collapse-could-be-a-long-term-positive