Shale Is Bouncing Back One Well at a Time With Oil Above $30
- EOG plans to accelerate output, Parsley brings wells back on
- U.S. crude has been on a steady march for the last month
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Early signs of a shale rebound are becoming evident as crude prices emerge from their dramatic collapse earlier this year.
EOG Resources Inc., America’s largest shale-focused producer, plans to “accelerate” output in the second half after shutting in about a quarter of its crude in May, exploration chief Ken Boedeker told an RBC Capital Markets conference Tuesday. Permian producer Parsley Energy Inc. is also turning wells back on just weeks after closing the taps, and producers in North Dakota’s Bakken formation are also easing the rate of shut-ins.