How to manage shale oil development in an oil patch
Recode is reporting that there is some concern that the U.S. could become a hub for shale oil production in a future boom in oil fields.
The report notes that the boom in production in the U:The report states that the number of new wells drilled in the past two years is more than the number drilled in any other industry, and that there are “no signs of the industry slowing down anytime soon.”
Recode points out that the drilling boom could be tied to fracking, which could also be a boon to the economy.
The boom in shale oil has been fueled by the shale oil boom in the United States, which was fueled by two factors:The boom began in 2015, when the oil price began to drop, making the production cost cheaper for oil producers.
And in response, the government of the United Kingdom and France both started drilling for oil in the North Sea, which is also a shale field.
Recode writes that the United Nations is considering a new rule that would restrict fracking to oil fields, and oil companies are looking at other ways to expand their production, including liquefying natural gas (LNG) and shale gas.
The industry is also looking at ways to produce LNG from shale formations, which would reduce the amount of water used for fracking.
Recode also points out the U.”s oil boom could have an adverse effect on the global economy by driving up energy costs and reducing the ability of consumers to spend their money on goods and services.