{"id":61784,"date":"2022-02-06T06:55:35","date_gmt":"2022-02-06T11:55:35","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61784"},"modified":"2022-02-06T06:55:35","modified_gmt":"2022-02-06T11:55:35","slug":"oil-frackers-brace-for-end-of-the-u-s-shale-boom","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61784","title":{"rendered":"Oil Frackers Brace for End of the U.S. Shale Boom"},"content":{"rendered":"
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Oil Frackers Brace for End of the U.S. Shale Boom<\/a><\/h3>\n

Limited inventory leaves the industry with little choice but to hold back growth, even amid high oil prices<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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The end of the boom is in sight for America\u2019s fracking companies.<\/p>\n

Less than 3\u00bd years after the\u00a0shale revolution<\/a>\u00a0made the U.S. the world\u2019s largest oil producer, companies in the oil fields of Texas, New Mexico and North Dakota have tapped many of their best wells.<\/p>\n

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If the largest shale drillers kept their output roughly flat, as they have during the pandemic, many could continue drilling profitable wells for a decade or two, according to a Wall Street Journal review of inventory data and analyses. If they boosted production 30% a year\u2014the pre-pandemic growth rate in the Permian Basin, the country\u2019s biggest oil field\u2014they would run out of prime drilling locations in just a few years.<\/p>\n

Shale companies once drilled rapidly in pursuit of breakneck growth. Now the industry has little choice but to keep running in place. Many are holding back on increasing production, despite the\u00a0highest oil prices in years<\/a>\u00a0and\u00a0requests from the White House<\/a>\u00a0that they drill more.<\/p>\n

The limited inventory suggests that the era in which U.S. shale companies could quickly flood the world with oil is receding, and that market power is shifting back to other producers, many overseas. Some investors and energy executives said concerns about inventory likely motivated a recent spate of acquisitions and will lead to more consolidation.<\/p>\n

Some companies say concerns about inventories haven\u2019t factored into their decisions to keep output roughly flat. For several years before the pandemic, frustrated investors had pressured companies to slow production growth and\u00a0return cash to shareholders<\/a>\u00a0rather than pump it back into drilling. Companies have promised to limit spending, though some executives recently said high prices signal a need for them to expand again this year.<\/p>\n

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

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Oil Frackers Brace for End of the U.S. Shale Boom Limited inventory leaves the industry with little choice but to hold back growth, even amid high oil prices The end of the boom is in sight for America\u2019s fracking companies. Less than 3\u00bd years after the\u00a0shale revolution\u00a0made the U.S. the world\u2019s largest oil producer, companies […]<\/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":[32615,331,412,1461,861],"class_list":["post-61784","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-collin-eaton","tag-fracking","tag-hydraulic-fracturing","tag-shale-boom","tag-wall-street-journal"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61784","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=61784"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61784\/revisions"}],"predecessor-version":[{"id":61785,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61784\/revisions\/61785"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}