Veren Inc T.VRN

The American Shale Patch Is All About Depletion Now

[sebastian2]

https://oilprice.com/Energy/Crude-Oil/The-American-Shale-Patch-Is-All-About-Depletion-Now.html

[baranja]

For sure. Those shale wells have depletion rates of 50% and more.  in two years, they are useless.  drill more,.. drill more,.. just to keep the same output.  $68 is bare minimum that shale needs to drill. drill and drill..

[Marty57]

In spite of the US upstream industry's ability to keep things rolling in shale oil production, the shale oil decline rates and continually shrinking pool of drilling locations must put a cap on shale oil production.  My best guess is that US prod will plateau and start to fall off gradually over the next few years.  If this is true, then a higher oil price seems likely.  But I

[sebastian2]

Exactly, the statements from DJT saying that he will impose drill baby drill even if that means the oil companies drill themselves out of business are more rhethoric than anything else.  There are very few tolls that can be used to force this.  There is no state oil company that can be used for subsidised oil output even with drilling on federal lands this would take years to make a dent

[baranja]

My biggest problem in can O&G sector is the fact that clows in Ottawa didn't build more pipelines east and west and had divrsified customer base. The last 10 years wasted.

[TheBridge]

You never know sebastian2.........Elon Musk could get into drilling in a moment.

[baranja]

That would be really awesome,.. Elon going into a oil and gas business.  I would love it. Woke libtard would have their heads explode.