Shale 2022 Completion Tech: Frac Efficiencies Continue to Help Drive Down Costs

Major oilfield service companies continue to push out leading-edge technologies in U.S. shale. Here’s a roundup of the latest advancements for the year ahead.

(Source: NOV)

In the aftermath of the industry upheavals in 2020 and 2021, some experts have proclaimed the death of shale. Many of those prognostications came before oil broke the $80/bbl ceiling not seen since 2014. But doubters persist.

In fact, many of the major service companies have left the U.S. market, concentrating instead on more stable and less competitive international markets. Depending on the company, these markets include South America, the Middle East and Russia, among others.

Companies active in shale plays realize that its future is in the balance, relying on greater efficiencies in drilling and completions as well as improving production. The heady days of the early shale boom, when oil grazed $100/bbl and capex budgets knew no limits, died quickly in the downturns of 2015 and 2020. Service companies and the manufacturers that provide much of their equipment are now combining Big Data with human ingenuity to make shale viable at any price level.

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