February 2016, Vol. 243, No. 2

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The Allure Of Shale Is Wearing Off

Investment in U.S. shale continues to dwindle, with several large companies raising eyebrows with plans to slow drilling plans much further than expected. Continental Resources, an Oklahoma-based shale company, has announced that it is largely zeroing out all plans to drill in North Dakota’s Bakken this year. Announcing its first annual loss since its inception in 2007, Continental Resources said that it would defer completions on just about all of its wells drilled in the Bakken. Continental will hold onto four rigs in North Dakota, but has no plans to deploy any fracking teams. The company’s production has already started to decline, falling to 224,936 barrels per day in the fourth quart

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