RE:from IVEven if they want to drill more they can't. There are not enough supplies to get it all done.
https://oilprice.com/Energy/Energy-General/Supply-Shortages-Are-Wreaking-Havoc-On-The-Energy-Industry.html
"We can't get enough sand,” the story quotes Michael Oestmann, CEO of Permian operator Tall City Exploration as saying, “We're running less than the number of (fracking) stages we could pump in a day because we've run out of sand every day. Ultimately it will slow everyone down if it doesn't resolve itself."
Rystad Energy said that spot prices for quality frac sand are now between $50 and $70 a ton, 2 to 3 times the price drillers were paying in 2021. Rystad Researcher Artem Abramov speculated that tight supplies will probably push sand prices higher in the coming weeks and months.
whoLuLu wrote: Bloomberg: Not Even $200 a Barrel: Shale Giants Swear They Won't Drill More
The architects of the American shale revolution are following through on pledges to put investor returns above all else.
The Texas wildcatters that ushered in America’s shale revolution are resisting the temptation to pump more oil as the market rallies, signaling higher gasoline prices for consumers already battered by the worst inflation in a generation.
Crude prices hurtling toward $100 a barrel typically would spark a frenzy of new drilling by independent explorers in shale fields from the desert Southwest to the Upper Great Plains -- but not this year. Influential players like Pioneer Natural Resources Co., Devon Energy Corp. and Harold Hamm’s Continental Resources Inc. just pledged to limit 2022 production increases to no more than 5%, a fraction of the 20% or higher annual growth rates meted out in the pre-pandemic era.
“Whether it’s $150 oil, $200 oil, or $100 oil, we’re not going to change our growth plans,’’ Pioneer Chief Executive Officer Scott Sheffield said during a Bloomberg Television interview. “If the president wants us to grow, I just don’t think the industry can grow anyway.’’