As well productivity in the U.S. shale patch has declined in the past two years, producers are looking to deploy new technology to reverse these declines, but small companies often cannot afford the high upfront costs, industry executives and analysts have told Reuters. While shale production pushed U.S.
“Summed up, the industry’s treadmill is speeding up and this will make production growth more difficult than it was in the past.” But advances in horizontal drilling and hydraulic fracturing technologies have increased well productivity over the past year, helping U.S. producers extract more crude oil from new wells drilled while maintaining production from legacy wells, the U.S. Energy Information Administration EIA said last month.
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