Weatherford CEO Warns Intensive US Fracking Drains Wells Too Fast

The former CEO of the fourth largest oilfield services company in the world, Weatherford International, says “intensive fracking” being used in U.S. shale plays is becoming so effective that its draining wells faster, earlier, and that means decline rates will soon begin to skyrocket. At the Oil & Money Conference in London on Monday, Bernand Duroc-Danner said this: “If you’re going to be fracking closer zones like crazy, lots of sand, lots of water, lots of pressure, you drain the hell out of those zones which is why production goes up…But then those zones don’t get replenished…after two years, there’ll be a build up in decline rates…I am not so sure if the battle won’t be, in two years, to sustain the base as opposed to keep on growing.” What does he mean?…

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