Like the fabled undead of horror movies, US shale oil fields refuse to keel over and die. Although the EIA has recently reported a decline in production in the Bakken, Eagle Ford and Permian basins, the drop has not been nearly as precipitous as one might expect. Shale wells can have a decline of up to 70% in the first year; add in the fact that drillers have been stacking rigs at record rates, exploration budgets have been slashed to the bone and bank credit has dried up like a desert gulch, shale oil should be deader than a dodo.
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