paywall ... give us the Cliff Notes
Mark Papa is head of the largest shale oil producer in the lower 48. He’s quoted as saying that conventional wisdom was that you could get NG from fracked shale, but the larger molecules of shale oil wouldn’t yield to that approach. But he realized that NG from shale was headed for market saturation and a decline in NG price.So he decided it was worthwhile to try, and after about nine failures they started to succeed in extracting oil. And the improvement in the fracking extraction techniques has exceeded his own - what he thought were optimistic - expectations by a factor or more than 2. The break in the price of crude is the result of that (as well as of some production-favorable international developments).
He indicates that improvement in the fraction of oil in a play which is extracted has been rapid and will continue.