The U.S. Shale Oil Industry is in serious trouble as it is not drilling enough wells to keep future production from collapsing. With a near 50% annual decline rate, the shale industry must drill enough wells to offset declines and grow production. And, to make matters even worse, the shale industry is depleting…
ExxonMobil is counting on using SuperFracks to increase its Permian shale oil production… or that’s the hope. This is a terrible sign because these SuperFracks may add more production on the front end, but the decline rate at the backside is much more severe. As ExxonMobil pumps in a record amount of fracking sand…
The second-largest shale oil field in the United States has finally hit the ENERGY CLIFF, which means, it’s all downhill from here. The once-mighty Bakken Shale Oil Field Engine that supposedly held 30 billion barrels of recoverable oil is now barely running on just one cylinder. Unfortunately, by the end of the decade…
The top four U.S. shale oil fields lost more than a half-billion barrels of oil production since their peak. At the current oil price, that’s a loss of $30 billion a year of oil revenues. Just think about that for a minute. The oil production loss from these top four shale fields would have supplied the United States…
The decade-long unprofitable shale industry is now in serious trouble. While high oil prices helped prop up the U.S. shale oil industry, low prices are gutting it every which way but loose. If the U.S. continues to lock down more of the economy this winter due to the surge…
The largest shale oil region in the United States is set to see its oil production decline in a big way. The mighty Permian shale region in Texas and New Mexico has been the leading U.S. shale oil producer in the country with over 4 million barrels per day of production…