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DeSmog
Analysis
Feb 3, 2020 @ 15:55
In mid-January, Adam Waterous, who operates the private equity firm Waterous Energy Fund, made a prediction about the crown jewel of the U.S. shale oil industry, the Permian shale play that straddles Texas and New Mexico.
“We think we are at or near peak Permian,” Waterous told Bloomberg. “The North American oil market has been grossly overcapitalized, which is not sustainable.”
Bloomberg reporter Simon Casey goes on to qualify that “[p]redicting peak Permian output for 2020 isn’t a mainstream view.” However, evidence is piling up that the U.S. shale industry may indeed be close to peaking as it runs out of the two things required to continue increasing oil production: money and what’s known as “tier one acreage.”
A timeline of Biden and the oil industry – The Collegian tucollegian.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tucollegian.org Daily Mail and Mail on Sunday newspapers.