for Shale Decline Rates
Because of lower spending levels, oil companies have injected more resources into existing oil fields, rather than greenfield projects, particularly ones with long lead times.
Some producers are turning more toward conventional plays, in particular older oil fields that can be tapped with new technology and provide quicker paybacks and more predictable long-term returns.
With so much focus on OPEC cuts and shale growth as of late, declines at existing fields and demand increases from low prices mean that a supply gap will eventually form, even if the rosiest scenario pans out in the Permian.
The U.S. oil industry is clamoring around a technology breakthrough that promises to extract more oil while slashing costs. But is "refracking" worth all the hype?