The U.S. Shale Oil Industry is in serious trouble, even without the negative impacts of the global contagion. While it’s no secret that shale oil wells suffer high decline rates, what is taking place in the country’s largest oil field is quite alarming. The rate at which shale oil production is declining in the Permian should worry investors. In just three months, Permian shale oil production from 2019 declined a stunning 23%. Thus, if no new wells were added in 2020, the Permian region would have lost 23% of its oil production… IN THREE MONTHS!! Here is the CHART OF THE WEEK showing how much faster shale oil production is declining in the Permian: The chart above was taken from Shaleprofile.com . I subscribe to the service, and I have to say, it’s worth its weight in gold. There is so much excellent information provided on the Shaleprofile.com Dashboard. […]