Shale Oil As crude prices plunged throughout the fall of 2014, producers tightened their budgets and changed their strategies to wait out the crisis. Not only are these tactics working for individual companies, but the efficiencies and innovations that are occurring may be setting the stage for another season of prosperity. Cutting Costs Producers have slashed costs associated with drilling through greater efficiencies and supplier reductions, including these first quarter results: Sanchez reported Q1 costs at 30 to 40% below fourth quarter 2014 Matador reduced operating costs 30% to 40% for Q1 Continental ’s drilling and completion costs fell by 15% EOG announced it has benefitted greatly from the pull-back in activity and progress is being made to lowering cost in each phase of their operations Innovation Looking for greater efficiency also means innovation. Cutting edge producers are pushing the science and technology to new levels as they work […]