Skip to comments.Why Oil Rig, Budget Cuts Will Be Slow To Curb Shale
Posted on 03/02/2015 1:16:31 PM PST by gogeo
While U.S. shale producers have slashed billions of dollars from capital budgets and taken more than 600 oil rigs offline since October, it may be several months before production actually falls as companies focus on their most efficient wells.
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The ground is really moving on energy production.
I wonder how fast shale and fracking could ramp up production in the future, when prices rise.
My understanding is that such wells kind of gush for a year or two, and then trickle for several years.
The Saudis can pretty much just turn the taps to ramp up their production, as their oil is in large underground pools under pressure, with the pipelines already laid to the terminals.
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