Rumors of Shale’s Peak Were Premature ...Middle East

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Rumors of Shale’s Peak Were Premature
source : OILPRICE ( Middle East ) () 77
During earnings season for the first quarter of the year, the message of the U.S. energy industry to the world was “Peak shale is here.” Now, three months later, the message has changed. Now, shale drillers are signaling there is still space to grow, so those expecting a decline after the peak will have to wait a bit longer. “We believe we are at a tipping point for U.S. oil production at current commodity prices,” said Travis Stice, chief executive of Diamondback Energy back in May in a letter to shareholders. “The…

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