Competition often breeds excellence. Nowhere else does this cliché hold more true than in the shale boom that’s currently underway. In North Dakota, we see drillers are consistently improving their operational efficiencies with practically every new well drilled. Independent companies like Continental Resources have lowered their average well costs in the Bakken by almost 20%. Their success is far from an anomaly, and it has become a standard for every other operator. What’s more is that this isn’t restricted to just North Dakota. Today, competition has helped the oil bonanza spread like wildfire across the lower 48 states as new drilling technology unfolds. Unfortunately, that simply isn’t the case for everyone. Boom to Bust for Big Oil Take a look at the other side of the spectrum. Alaska has arguably been the most sensational disappointment in the U.S. oil industry since the 1980s, and the blame rests squarely on […]