Faded Texas Oil Field Offers Austerity Lesson for U.S. Shale

There are going to be a lot more Richards on the road in a few months. There will be a massive influx and then taper to a moderate increase. Kinda like how fracking produces oil.

 

That's funny because it's up 9.13 % from Nov.2018 Or about 968,000 b/d.

 

It's odd the article doesn't mention how production can actually increase with zero new wells drilled. Old wells can be refracked many times. Also long bores 17,000-30,000 feet may not have been fracked completely because of cost. They can knock out 50 stages then come back 18 months later and do another 50. It would seem that article is aimed at Wall Street money "wanting a new home". When i worked Texas in 11' thru 16' we would do the EOG wells outside Pecos where they would drill, frack then cap. I'm not sure how many there were, but it would seem Enron knew pretty early about the price crash of 15' and 16' and planned for it?

 

Shale is done. Investment slowing down because the promised return not showing at current or foreseeable future oil prices. Expect all kinds of good news and promises the next few years to try to keep it going.

 

Shale ain't done just like people saying the baaken is done. They slow down like in the past.

 

No, it ain't done, just another slowdown related to crude price drops. The EFS will always slow down before the Permian Basin on account of the increased cost of fracking a tighter formation.

 

Shale is done!


Until the price creeps back up and there's money to be made

 

Hopefully the rate cutters fold up and go out of business. Soon as the boxes started showing up the rates tanked.