Shale-Oil ‘Fracklog’ Shows US Oil Production May Be Slowing
Apr 15, 2024
Shale explorers are drilling wells faster than they’re fracking them, a signal that US oil-production growth is slowing.
Oil companies added to the number of drilled-but-uncompleted wells, known as the fracklog, last month for the first time in more than a year, according to a report from the US Energy Information Administration on Monday. The tally is a key indicator of near-term crude flows from US shale fields because fracking is one of the final steps in the process of bringing new wells online.
