Schlumberger Ltd. chairman Mark Papa told an audience at the International Petroleum Technology Conference on Jan. 13 that he expects shale production to grow by just 400,000 barrels per day (bbl/d) in 2020, according to the Journal of Petroleum Technology.

This echoes comments made in November by Centennial Resource Development Inc. CEO Mark Papa, who said at the time, “I now think that 2020 year-over-year oil growth will be roughly 400,000 barrels per day.”

It’s good to see that they agree. Papa’s reasoning, regardless of the corporate hat he’s wearing at any given time, is that shale oil is a finite resource.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access