While Opec was cutting...
The Permian will lead a strong US onshore recovery in 2017, while former stalwarts the Eagle Ford and Bakken struggle to regain their footing
After a nearly two-year rout, America's tight oil business is mounting a strong comeback—a little too strong for some of its rivals. Saudi Arabia's oil minister Khalid al-Falih joked, with a tinge of despair, during a March speech in Houston that the green shoots of recovery in the US shale patch were perhaps "growing too fast". The shale producers that have come through the other side of the downturn—and many did not—have pushed their costs lower by as much as 40% and learned how to squeeze more crude out of each well they drill. The result has been crashing breakeven prices across the sector, with huge swathes of tight oil basins that needed $80-a-barrel-plus oil prices a couple of years a
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