Shale CEOs cite US political and regulatory uncertainty as a barrier to new well drilling, despite high oil prices.
Shale CEOs report US political and regulatory uncertainty as a factor hindering new well drilling, despite oil prices being high enough to make it profitable, according to the Federal Reserve Bank of Dallas' quarterly energy survey. The decision to invest in new wells cannot be made until the current level of uncertainty is resolved. Oil and gas sector activity in the first quarter of 2024 remained relatively unchanged, with a small decline in production and the natural gas production index turning negative.
March 27, 2024
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