Not A Fracking Frenzy: What The New Shale Oil Boom Will Look Like

Not A Fracking Frenzy: What The New Shale Oil Boom Will Look Like

Share to Linkedin An electronic sign displays "Midland Strong" on Wall Street in Midland, Texas, U. S, on Thursday, ... [+] April 23, 2020. Midland is the central hub for the development of the massive oil and gas shale resources in the Permian Basin of West Texas. Photographer: Matthew Busch/Bloomberg Moving into the next boom time for the domestic U. S. oil and gas business doesn't necessarily mean you will be repeating the outcomes of the last one. That's a point of confusion my previous piece from last week - "The Next U. S. Oil And Gas Boom Suddenly Looms On The Horizon" - appears to have created. One reader pointed out that Vicki Hollub, CEO of Occidental Petroleum OXY , had told last week's CERAWeek conference that she didn't think the U. S. industry would ever get back to producing 13 million barrels of oil per day. That's where, according to the U. S. Energy Information Administration (EIA), total U. S. production peaked back in November/December of 2019, before 2020 and the COVID-19 pandemic dawned and threw the industry into its deepest depression in 35 years. It's a risky proposition to ever say "never" where the the oil industry