Though net profits and spending are down, companies working in U.S. shale basins are finding well costs going down while production forecasts grow. The low price of oil is forcing energy companies to spend less on exploration and production efforts. Oil field services companies Halliburton and Baker Hughes are merging in an effort to control costs, while others shed numbers from their work force. Anadarko Petroleum said it’s delivered strong production results during the first quarter while spending less. At shale basins in Colorado, the company said it’s saved around $500,000 on drilling operations so far this year. In the Eagle Ford shale basin in Texas, the company said the cost of drilling a well is […]