The crazy rate of production growth seen in US shale over the last five years is a thing of the past, Schlumberger CEO Olivier Le Peuch told Reuters on Tuesday on the sidelines of a conference in Saudi Arabia. While shale production will continue to grow this year and in future years, the rate of growth will slow considerably, to 600,000 to 700,000 barrels per day this year, and even worse—to just 200,000 barrels per day in 2021, after which it will plateau, never to the previous rate of growth. Unless, of course, there are significant developments in new technologies that will allow E&P companies in the United States to lower their costs, Le Peuch said. This isn’t the first time that analysts and industry players have called the end to the rapid growth in US Shale that has forever changed the landscape of the global oil industry. And […]