Drilled but uncompleted wells in the U.S. shale patch hit November 2017 levels in July of this year, suggesting the industry desperately needs to start drilling While U.S. shale companies have been eager to please investors by cutting costs and returning money to shareholders, these companies now need to drill to maintain production If oil prices remain near the $80 mark then most shale companies should have the capability to increase drilling and continue to deliver returns for shareholders Nearly two years ago, OPEC+ made a high-stakes wager that it could curb oil production and drive crude prices higher without unleashing an onslaught of supply from U.S. shale producers. Indeed, Saudi Arabia was adamant that the golden age of U.S. shale was over as plunging oil prices put hundreds of companies out of business. Well, the alliance’s gambit has definitely paid off, with oil prices staging a strong rebound […]