Rystad Shale Capex US shale expenditure is projected to surge 19.4% next year, up from an expected $69.8 billion in 2021 to $83.4 billion, the highest level since the onset of the COVID-19 pandemic and signaling the industry’s emergence from a prolonged period of uncertainty and volatility, according to a Rystad Energy report. As the impact of the pandemic on demand and activity levels out, US land players are poised to increase spending. As the Omicron variant of the novel coronavirus tightens travel restrictions and raises concerns over a potential industry slowdown, some hesitancy in spending could yet materialize. Of the expected year-on-year increase, service price inflation alone is set to add $9.2 billion, with increased activity chipping in $8.6 billion. These increases will be partially offset by $4.2 billion in savings from efficiency gains. Efficiency gains are expected to be driven predominantly by further adoption of simul-fracs. […]