This year shows improved practices across drilling, completion, well performance, well placing and well economics, according to Oil & Gas Financial Journal. All key metrics — drilling speed, propping per stage and EUR per well — have increased across the main shale plays. Additionally, operators have improved well performance every year for the last five years.

The trend of efficiency is expected to continue in all aspects of drilling, but 2016 saw a lot of improvements. With the increase of newer, more efficient rigs, drilling speed has increased nearly 800 feet per day nationwide. The average length of shale wells has increased as well, with the exception of the Bakken play. Completion intensity led to higher recovery volumes per well.

The combination of increased efficiency, lower unit well costs and high grading over the course of the last two years has led to 47 percent lower breakeven prices on average.

Learn more: Oil & Gas Financial Journal > Improved Drilling, Completion and Breakeven Price