{"id":2277,"date":"2014-12-01T12:19:09","date_gmt":"2014-12-01T17:19:09","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2277"},"modified":"2014-12-01T12:19:09","modified_gmt":"2014-12-01T17:19:09","slug":"exclusive-october-oil-shale-permits-drop-is-the-slowdown-here","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2277","title":{"rendered":"EXCLUSIVE-October oil shale permits drop: is the slowdown here?"},"content":{"rendered":"<p><a href=\"http:\/\/www.cnbc.com\/id\/102226257\">EXCLUSIVE-October oil shale permits drop: is the slowdown here?<\/a>.<\/p>\n<p style=\"padding: 0px; margin: 0px 0px 18px 0px;\">NEW YORK, Dec 1 (Reuters) &#8211; U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. But new data suggests that the much-anticipated slowdown in shale country may have finally arrived.<\/p>\n<p style=\"padding: 0px; margin: 0px 0px 18px 0px;\">Permits for new wells dropped 15 percent across 12 major shale formations last month, according to exclusive information provided to Reuters by DrillingInfo, an industry data firm, offering the first sign of a slowdown in a drilling frenzy that has seen permits double since last November.<\/p>\n<p style=\"padding: 0px; margin: 0px 0px 18px 0px;\">The Organization of Petroleum Exporting Countries last week agreed to maintain its production quota of 30 million-barrels-per-day, despite a 30 percent drop in oil prices since June, triggering an additional 10 percent decline. That move, many analysts believe, was squarely aimed at U.S. oil producers driving the country&#8217;s energy resurgence: can they continue drilling at the current pace if prices don&#8217;t rise?<\/p>\n<p style=\"padding: 0px; margin: 0px 0px 18px 0px;\">&#8220;Currently, the market is focused on U.S. shale as the place where spending and production must be curtailed,&#8221; Roger Read, a Wells Fargo analyst, said in a note Friday. &#8220;There is little doubt, in our view, that lower oil and gas prices will result in lower spending and lower shale production in 2015 to 2017.&#8221;<\/p>\n<p style=\"padding: 0px; margin: 0px 0px 18px 0px;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EXCLUSIVE-October oil shale permits drop: is the slowdown here?. NEW YORK, Dec 1 (Reuters) &#8211; U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. But new data suggests that the much-anticipated slowdown in shale country may have finally arrived. Permits [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[595,600,1549,846,1550],"class_list":["post-2277","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-production","tag-opec","tag-shale-well-decline","tag-us-shale-oil","tag-well-permits"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2277"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2277\/revisions"}],"predecessor-version":[{"id":2278,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2277\/revisions\/2278"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}