Falling prices could force shale drillers—who fracture underground rock formations to release the oil and gas trapped inside—to moderate their growth in booming areas such as the Permian Basin in Texas and New Mexico, and the Bakken region of North Dakota. The Bakken pumped a record 1.3 million barrels a day in October, more than Oman or Libya. As an older field that analysts say needs a higher price to be economic, the Bakken is a test case for the industry’s ability to weather a steep oil-price decline. Harold Hamm, chief executive of Continental Resources Inc., which helped pioneer horizontal drilling and fracking in the Bakken Shale region 15 years ago, said his company can generate a return even if oil prices fall below $40 a barrel. But he conceded that declining prices could alter the company’s spending plans. “I wouldn’t say it doesn’t affect your thinking because it […]