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Folks struggle with the concept that nothing in the oil business lasts forever, including shale oil. That's likely because of the abundance "hype" we hear from our own government, the number of drillable locations that shale oil companies lie about all the time in their IP's and technically recoverable resource estimates made by outfits like the USGS and Rystad.
EOG is the irrefutable world's heavyweight champion of shale oil development, and its home is the Eagle Ford shale play of S. Texas, particularly Gonzales County. The map on the left shows not very many EF shale oil wells were drilled
in Gonzales County in 2019 by EOG, because it is likely running out of damn room, and those wells that were drilled were lagging far
behind in terms of previous years' productivity, likely because of over drilling.
The shale oil industry is drilling itself out of business at an alarming rate and in the process driving the price of oil down. Even mighty EOG will be out of its locations soon and when they move away from their sweet spots, productivity will decline even more.
Then what? To hell with EOG; then what for America?
"The report warns that global production growth may therefore soon stall due to the dodgy debt-driven economics of the US shale industry. While Saudi Arabia will no longer be able to ramp up production much, the US shale oil sector could be on the brink of unravelling due to massive unrepayable debts, declining production rates, and poor well quality. "
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