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Shale Drilling Slides to Lowest Level of Activity Since 2022

Posted on AllSides June 7th, 2024
From The Left

Drilling in the US shale patch dropped to the lowest level in almost two-and-a-half years as operators vow to make good on promises to investors for subdued production growth this year.

The number of US rigs drilling for oil fell by four to 492, the lowest since January 2022, according to data released Friday by Baker Hughes Co. . The rig count is down 1.6% so far this year, while oil prices are up 5.6% in the same period.

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