Bear market forces U.S. shale drillers to pull back
Sunday, August 16, 2015
Across the United States, most of the major shale plays are likely going to cut back on production, according to Bloomberg Business.
The U.S. Energy Information Administration forecasts the major domestic shale play outputs.In Texas’s Eagle Ford Shale, production is expected to fall to 1.48 million barrels of oil a day in September. North Dakota’s Bakken is expected to fall to 1.16 million barrels a day next month.
In the Permian Basin of West Texas and New Mexico, production will rise by 8,000 barrels per day in September, a different scenario than much of the rest of the country.
Via: Bloomberg Business > Shale Oil Output Wanes as U.S. Producers Retreat in Bear Market
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