U.S. shale oil "feast" may end

Since the rise of the shale oil revolution, the U.

Shale well reserves are depleting too fast

The Wall Street Journal recently compiled a survey of drilling inventory information from analyst firm FLOW, Bernstein Research, and energy consultancy Rystad Energy

Shale wells produced impressive early output, but production declined rapidly

Shale companies have seen their well stockpiles dwindled as oil prices slumped during the pandemic, with many oil companies seeking lower-cost wells and avoiding higher-cost drilling

Rystad Energy estimates that since the end of 2016, the number of top drilling sites in five major U.

Production growth will slow significantly

With insufficient reserves, U.

Pioneer Natural Resources is the largest oil producer in the Permian Basin in West Texas and New Mexico

　　While privately-held oil producers have increased production in the Permian Basin over the past year

　　Exploration of new oil wells is very urgent

　　Faced with the current predicament, shale oil executives and investors say new hot spots need to be explored

　　Under the leadership of new CEO Ezra Jacobs, EOG Resources is now one of the few companies trying to find new oil and gas exploration sites in the U.

　　According to estimates by Tom Loughrey, president of FLOW, if EOG's production is basically flat, its inventory can last for 12 and a half years, but if annual production increases by 15%, it can only last for 4-5 years