The shale recession is over. So what’s next? | The National

The shale recession is over. So what’s next? | The National:



"Last week, for the first time since last autumn’s oil price collapse, the number of US horizontal rigs – those used for drilling shale oil – rose across the board.



They increased in all the major shale plays – the Bakken, Permian and the Eagle Ford – and on balance in the other plays as well. And they did so in a relatively weak oil price environment, with prices for West Texas Intermediate (WTI) averaging only $57 per barrel for the week.



So what happens now? The rig recovery may prove a blip, and modest rig declines may resume. This is possible but unlikely. The rig count has been moving sideways for six weeks now, and the most likely worst-case outcome is a steadying near recent levels."



'via Blog this'