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Awash in Oil
Fracklog Grows as Producers Await Price Rebound
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  • Jacksonian_Libertarian

    This drilling wells but not fracking them isn’t going to help the Shale Oil Developers. What has happened is that the fall in oil prices has come so fast that drilling projects were already in progress, and the money already borrowed and mostly spent. And the well once drilled could conveniently be capped and no more money needed to be sunk in what had now become an unprofitable venture. Now the Developers will have to find ways to further lower costs, for market prices to rise, or some other way to return to profitability. I believe they will be able to squeeze more savings out of the overhead, and return to profitability, but it isn’t going to happen fast.

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