Fracking for oil and natural gas has remade the global energy industry in America’s favor. But, much of the industry’s growth has been fueled by mountains of cheap debt and unrealistic forecasts. Might the entire enterprise be a financial crisis in the making?
Last month, two days before the latest government prediction that U.S. shale production would hit new heights, an oil industry conference in Houston opened with a clip of Eeyore making one of his bleak utterings: “End of the road, nothing to do and no hope of things getting better.” – @ https://www.mrt.com
Mineral Resources Director Lynn Helms, the state’s top oil regulator, said about 20% of drilling activity is now outside of the “core” areas of the western North Dakota’s oil-producing region. – https://www.fracnews.com