The Death Of U.S. Shale Has Been Greatly Exaggerated
The U.S. shale sector might be down but is by no means about to go out. Shale companies know it, and have been busy consolidating their operations so as to be better primed for the oil price recovery
By Oilprice.com —— Bio and Archives--December 7, 2020
Global Warming-Energy-Environment | Comments | Back To Full Article
The current year marks the 15th anniversary of the U.S. shale boom, a period in which fracking technology across such states as Texas, Colorado, New Mexico, North Dakota, and Wyoming helped establish the nation as a top oil and gas producer.
Unfortunately, high costs of production compared with conventional drilling has led to the sector consistently printing red ink and resulted in considerable destruction of shareholder value. The Covid-19 pandemic and subsequent oil price crash has led to investors souring on the industry further, credit becoming harder to come by, and a cross-section of Wall Street calling the end to the sector.
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