Recently, there has been some concern about the ability of U.S. shale , and in particular, the Permian Basin, to continue the meteoric increases in production that have characterized the past decade’s boom. Growth in U.S. shale production since 2010 has led to a scenario no one ever imagined even a few years ago. America is now an energy exporter, sending cargoes of oil and LNG around the world. (Click to enlarge) Figure.-1, Source: EIA, Chart by Author The data shows a rapid production ramp from 2010 as horizontal drilling and fracking technology replaced vertical wells. This continued and even accelerated through the end of Q-4, 2014 as DUCs (drilled but uncompleted wells) were brought online. The decline of Q-1, 2015 reflects the impact of the oil price drop that actually began in mid-2014. The new ramp beginning in 2017 reflected the new lower costs from suppliers and the […]