Rising productivity from new wells has driven U.S. shale production higher in recent years and higher in 2019, too, the Energy Information Administration (EIA) said on Friday. Last year, shale production accounted for 64 percent of all crude oil production in the United States, with the share of shale output rising thanks to the increasing productivity of new wells that were brought online. In all major shale regions, the average first full month of production from new wells has grown since 2007, the EIA has estimated. As production rates from new wells rose, overall shale production rose even in 2015 and 2016 when drilling activity was subdued to the low oil prices. “Since 2017, recovering oil prices and more efficient production from new wells have helped producers cover costs of drilling, production, and the development of new technologies,” the EIA said. The longer laterals and the injection of more […]