Bogota Free Planet Comments
Has Permian Productivity Peaked?
Posted by BFP Staff on Jun 2, 2017 at 10:45 AM
OPEC's determination to prevent another downturn in prices
By Nick Cunningham of Oilprice.com
The U.S. shale industry might have just received a huge windfall with the nine-month extension of the OPEC cuts. Shale output was already expected to come roaring back this year, but the extension of the cuts provides even more room in the market for shale drillers to step into.
The sky is the limit, it seems. However, there are growing signs that the U.S. shale industry could be reaching the end of the low-hanging fruit. Or, more specifically, drilling costs are starting to rise and the enormous leaps in production that can be obtained by simply adding more rigs also appears to be running into some trouble.
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