A global oil shortage and high fuel prices has triggered calls from President Joe Biden’s administration for U.S. shale producers to spend more of their profits to boost output. However, shale producers have been under pressure to focus more on returning excess cash to shareholders in the form of dividends and buybacks rather than production growth. Luckily, there’s a proven technology for U.S. shale oil producers to return to existing wells and give them a second, high-pressure blast to increase output for a fraction…
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