Deals
America’s Hottest Shale Play Is Slowing Down
- Month-over-month output growth set to drop below 1% next month
- A wave of petrochemical plants is planned along the Gulf Coast
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The engine of America’s shale boom is beginning to sputter.
The almost relentless thrust that has doubled crude output from the Permian Basin in three years is showing some signs of waning. Oil flows from the formation spanning West Texas and New Mexico are set to increase by less than 1% in August from July, data from the Energy Information Administration show. So far this year, the monthly rate has only exceeded 2% once, compared with six times in 2018.