Bloomberg | Joe Carroll
This week, OPEC raised its estimate for North American shale growth by 56 percent.
Even as American drillers embrace the new religion of profits-over-production, OPEC’s latest long-term forecast focused on the ability of shale explorers to thrive regardless of prices, thanks to advances in guiding drillbits and fracking. The U.S. rig fleet may be shrinking, but production isn’t. It’s risen 8.9 percent since 2016. The Organization of Petroleum Exporting Countries surprised investors on Tuesday by boosting its long-term estimate for growth in North American shale production by 56 percent from a year earlier. The 12-nation group now expects output from the continent’s shale wells — which weren’t even a blip on worldwide markets a decade ago — to reach 7.5 million barrels a day in four years.
Read Full Article
ABOUT THIRD PARTY LINKS ON OUR SITE
Sanchez Energy Corporation’s Website offers links to other third party websites that may be of interest to our website visitors. The links provided on our website are provided solely for your convenience and may assist you in locating other useful information on the Internet. When you click on these links you will leave the Sanchez Energy Corporation’s website and will be redirected to another site. These sites are not under the control of Sanchez Energy Corporation.
Sanchez Energy Corporation is not responsible for the content of linked third party websites. We are not an agent for these third parties nor do we endorse or guarantee their products or information. We make no representation or warranty regarding the accuracy of the information contained in the linked sites. We suggest that you always verify the information obtained from linked websites before acting upon this information.
Also, please be aware that the security and privacy policies on these sites may be different than Sanchez Energy Corporation’s policies, so please read third party privacy and security policies closely.
If you have any questions or concerns about the products and services offered on linked third party websites, please contact the third party directly.