I don’t think there is any talk of shutting down wells at today’s prices.
But some of the wells that would get drilled next year will be put on hold. While that happens, the flowing wells continue to slide lower on the production curve. If drilling slows down enough, the total US production rate will fall. It will certainly slow down the growth rate at $75 versus $100 over time.
I don’t know if this is a good idea, but how about a exploration fee on a gallon of gas for example 5 cents ?
Anyway I hope there is a eureka moment very soon that or could drive down the cost for either e ploration, drilling,production, ...... I have to keep that in my prayers to God.
Would people be willing to pay a extra 5 cents for exploration, drilling to help keep America’s Shale industry booming ?