{"id":39606,"date":"2018-10-23T07:59:55","date_gmt":"2018-10-23T12:59:55","guid":{"rendered":"http:\/\/olduvai.ca\/?p=39606"},"modified":"2018-10-23T07:59:55","modified_gmt":"2018-10-23T12:59:55","slug":"u-s-shale-oil-industry-catastrophic-failure-ahead","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=39606","title":{"rendered":"U.S. SHALE OIL INDUSTRY: Catastrophic Failure Ahead"},"content":{"rendered":"<header class=\"entry-header clearfix\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/srsroccoreport.com\/u-s-shale-oil-industry-catastrophic-failure-ahead\/\">U.S. SHALE OIL INDUSTRY: Catastrophic Failure Ahead<\/a><\/h3>\n<\/header>\n<div class=\"entry-content clearfix\">\n<p>While the U.S. Shale Industry produces a record amount of oil, it continues to be plagued\u00a0by massive oil decline rates and debt.\u00a0 Moreover, even as the companies brag about lowering the break-even cost to produce shale oil, the industry still spends more than it makes.\u00a0 When we add up all the negative factors weighing down the shale oil industry, it should be no surprise that a catastrophic failure lies dead ahead.<\/p>\n<p>Of course, most Americans have no idea that the U.S. Shale Oil Industry is nothing more than a Ponzi Scheme because of the mainstream media\u2019s inability to report FACT from FICTION.\u00a0 However, they don\u2019t deserve all of the blame as the shale energy industry has done an excellent job hiding the financial distress from the public and investors by the use of highly technical jargon and BS.<\/p>\n<p>For example, Pioneer published this in the recent Q2 2018 Press Release:<\/p>\n<blockquote><p>Pioneer placed 38 Version 3.0 wells on production during the second quarter of 2018. The Company also placed 29 wells on production during the second quarter of 2018 that utilized higher intensity completions compared to Version 3.0 wells. These are referred to as Version 3.0+ completions. Results from the 65 Version 3.0+ wells completed in 2017 and the first half of 2018 are outperforming production from nearby offset wells with less intense completions. Based on the success of the higher intensity completions to date, the Company is adding approximately 60 Version 3.0+ completions in the second half of 2018.<\/p><\/blockquote>\n<p>Now, the information Pioneer published above wasn\u2019t all that technical, but it was full of BS.\u00a0 Anytime the industry uses terms like \u201cVersion 3.0+ completions\u201d to describe shale wells, this normally means the use of\u00a0 \u201cmore technology\u201d equals \u201cmore money.\u201d\u00a0 <strong>A<\/strong><strong>s the shale industry goes from 30 to 60 to 70 stage frack wells, this takes one hell of a lot more pipe, water, sand, fracking chemicals and of course, money<\/strong>.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. SHALE OIL INDUSTRY: Catastrophic Failure Ahead While the U.S. Shale Industry produces a record amount of oil, it continues to be plagued\u00a0by massive oil decline rates and debt.\u00a0 Moreover, even as the companies brag about lowering the break-even cost to produce shale oil, the industry still spends more than it makes.\u00a0 When we add [&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":[195,3820,2942,723,1919,12073,20311],"class_list":["post-39606","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-debt","tag-oil-decline-rate","tag-ponzi","tag-shale-oil","tag-shale-oil-industry","tag-srsrocco-report","tag-us-shale-oil-industry"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39606","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=39606"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39606\/revisions"}],"predecessor-version":[{"id":39607,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/39606\/revisions\/39607"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}