Saturday, April 2, 2022

There

 


ya go...

From March 1st of this year:


High Oil Prices Aren’t Enough To Tempt Shale Producers


"Supply chain issues, runaway inflation and a growing labor shortage have hindered the industry’s ability to increase output."

"The U.S. shale patch is set to play a more minor role in potentially bringing down international crude oil prices and American gasoline prices than it did in the previous upcycles when annual growth topped 1.2 million bpd in 2019 and 1.6 million bpd in 2018."

"Whether it's $150 oil, $200 oil, or $100 oil, we're not going to change our growth plans," Sheffield told Bloomberg Television in an interview last month.  

"The capital discipline from the public independents in the U.S. shale patch doesn't bode well for U.S. gasoline prices..."

"Capex discipline from the largest shale firms and the supply chain bottlenecks for many producers will cap U.S. oil production growth, according to Pioneer's Sheffield." 

"Several other producers are having trouble getting frack crews, they're having trouble getting labor and they're having trouble getting sand; that's going to keep anybody from growing," he told Bloomberg in February." 

"Even if the president wants us to grow, I just don't think the industry can grow anyway," said Sheffield.  

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