EIA Aug ’19 Drilling Report: M-U Hits New High of 32.6 Bcf/d

Have you noticed the disconnect? While many in the press observe shale companies have lost an alarming amount of value--many over 90% of market capitalization in recent years--yet shale drillers are still in business and producing more oil and gas than ever. Record amounts, in fact. According to the EIA (U.S. Energy Information Administration, our favorite government agency), in the coming month of September, the U.S.'s seven major shale plays will produce a combined 81.6 billion cubic feet per day (Bcf/d) of natural gas, and 8.8 million barrels of oil per day. That's a brand new record high for each.

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