周永樂 + 3 July 29, 2020 https://www.eia.gov/dnav/pet/pet_sum_sndw_dcus_nus_w.htm Quote Share this post Link to post Share on other sites
Junior Geo + 25 July 29, 2020 (edited) My guess is that the increase in oil production in the US is due to companies resuming production on shut-in wells. Rig levels are still highly subdued in the US, so I assume production declines will kick in soon. I think that we will see that production begin to taper off again by the end of the summer/early fall as well declines kick in. As for what next, it is a guessing game. If oil continues to hover around $40/barrel, I could see shale producers starting to increase rig/completion rig counts to keep production flat. But that is just a guess. Edited July 29, 2020 by Junior Geo 1 Quote Share this post Link to post Share on other sites
周永樂 + 3 July 30, 2020 12 hours ago, Junior Geo said: My guess is that the increase in oil production in the US is due to companies resuming production on shut-in wells. Rig levels are still highly subdued in the US, so I assume production declines will kick in soon. I think that we will see that production begin to taper off again by the end of the summer/early fall as well declines kick in. As for what next, it is a guessing game. If oil continues to hover around $40/barrel, I could see shale producers starting to increase rig/completion rig counts to keep production flat. But that is just a guess. Yes.Maybe shale companies need to pay the increased debt accumulated in the decades. And rigs will have a limited rise. Quote Share this post Link to post Share on other sites