Shale Wells Are Losing Oil Output Faster Than Expected, Study Says
- Rate of shale production is falling over time: Enverus
- Permian Basin oil production profile has declined steeply
Pump jacks and wells on the Monterey Shale formation near McKittrick, California.
Photographer: David McNew/Getty ImagesThe steep drop in output from US shale wells is turning out to be worse than expected, forcing oil drillers to work even harder to keep production from slipping, research firm Enverus said in its latest report.
The firm’s conclusion that there won’t be a surge of American oil production comes after the amount of crude extracted from US shale wells doubled in the past decade. The falling output rate over time highlights a fact of life for US shale explorers: oil wells are most prolific in early months of production, with gushers quickly turning to trickles. That reality is why oil output boomed during the shale revolution of the 2010s as companies chased production growth at all costs.