{"id":43202,"date":"2019-01-26T18:09:41","date_gmt":"2019-01-26T23:09:41","guid":{"rendered":"https:\/\/olduvai.ca\/?p=43202"},"modified":"2019-01-26T18:09:43","modified_gmt":"2019-01-26T23:09:43","slug":"shale-pioneer-hamm-output-growth-could-fall-by-50%ef%bb%bf","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=43202","title":{"rendered":"Shale Pioneer Hamm: Output Growth Could Fall By 50%\ufeff"},"content":{"rendered":"\n

Shale Pioneer Hamm: Output Growth Could Fall By 50%<\/a><\/h3>\n\n\n\n
\"Harold<\/figure>\n\n\n\n

U.S. shale production growth could slow by as much as half this year, according to one industry titan.<\/p>\n\n\n\n

Continental Resources\u2019 Harold Hamm said that shale growth could decline by as much as 50 percent this year compared to 2018, although he added that it was just a \u201cwild guess.\u201d Hamm said that a lot of shale E&Ps are trying to keep spending within cash flow. This newfound mantra of capital discipline has been imposed on the shale industry after a decade or so of a debt-fueled drilling frenzy.<\/p>\n\n\n\n

\u201cProducers have become more disciplined in their approach to capex,\u201d Hamm said<\/a> at the Argus Americas Crude Summit in Houston this week. \u201cSeveral years back growth was a huge consideration. That consideration has been much less. The peak consideration now has been \u2014 are you overspending cash flow. Are you living within cash flow?\u201d<\/p>\n\n\n\n

The signs of a shale slowdown have been mounting. The rig count fell sharply in recent weeks. Production growth has already begun to slow. Schlumberger, the world\u2019s largest oilfield services company, has warned<\/a> that it is already seeing shale companies pulling back on drilling activity.<\/p>\n\n\n\n

In the latest\u00a0Drilling Productivity Report<\/a>, the EIA forecasts that U.S. shale production will grow by 62,000 bpd in February compared to a month earlier. That is the slowest rate of growth in nearly a year, and down from the prior monthly production increases that have consistently exceeded 100,000 bpd.\u00a0<\/p>\n\n\n\n

Argus, using Barclays data, points out that North American onshore might only tick up by about 9 percent this year, down from the 18 percent jump in 2018. That could quickly translate into slower output growth. \u201cProduction is a direct response of capex today with this industry,\u201d Hamm said at the Argus summit. <\/p>\n\n\n\n

 \u2026click on the above link to read the rest of the article\u2026<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Shale Pioneer Hamm: Output Growth Could Fall By 50% U.S. shale production growth could slow by as much as half this year, according to one industry titan. Continental Resources\u2019 Harold Hamm said that shale growth could decline by as much as 50 percent this year compared to 2018, although he added that it was just […]<\/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":[10150,6010,23083,23554,827],"class_list":["post-43202","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-harold-hamm","tag-nick-cunningham","tag-oil-price-com","tag-shale-oil-growth","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43202","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=43202"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43202\/revisions"}],"predecessor-version":[{"id":43203,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43202\/revisions\/43203"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}