Culture of Inflating Oil Reserves Helped Stoke U.S. Shale Boom
Financial Firms Among Big Relief Fund Recipients
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Oil & Gas Leveraged Loan Defaults Could Topple Record Amid Payment Misses
Chesapeake joins more than 200 other bankrupt U.S. shale producers


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  • 1) The dearth of available capital, lack of new economic unconventional plays, the approach of a natural limit to drilling and completion efficiencies and worldwide suppressed demand all point to diminished activity and significant contraction of domestic oil production. 

  • 2) Reserves from Tier 1 unconventional reservoirs were squandered in a short duration as the first 8 years of oil-focused shale development prioritized growth above all else – producing into an oversupplied market at suppressed prices.  Tier 2 & 3 unconventional reservoirs require oil prices north of $75/bbl to provide a reasonable time to payout.


  • 3) The recent drop in crude output is steeper than the drop of 2015 largely due to diminished rock quality in unconventional reservoirs. As the rig count stays near 250, domestic production will fall precipitously far beyond minor curtailment.  


Please read more, here:


"Growth thru debt is unsustainable, artificial." 
Jose Manuel Barroso, Chair of Goldman Sachs International 


   Some cool drone footage by Catherine

   and Mike catching a little piddly floor 

work on a P&A job, set to music by

Pink Floyd ! 


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