business / news / / Hartford Courant
shale drillers are expected to follow President Donald Trump’s call for higher oil production.
U.S. shale drillers are incentivized to increase output due to a 72% surge in oil prices.
KEY POINTS
- Production increases will first come from drilled-but-uncompleted wells, known as DUCs.
- The lead time to bring new shale wells online can be up to nine months.
- Industry consolidation means fewer small producers will rapidly respond to price spikes.
- Exxon and Chevron are seen as most likely among majors to boost Permian Basin output.
COMPANIES
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