U.S. Oil Producers Fight Back

To combat the lower global oil prices brought on by Saudi Arabia, U.S. oil and gas producers are using new technology to get more out of every well and operate more efficiently. Operators in North Dakota and Texas are discovering that that can return a well to peak output without the expense of drilling a new well. Drilling time can be reduced up to 30 % and fracturing costs cut by up to 50% in the Bakken. "U.S. shale drillers will never push costs as low as OPEC countries. But the U.S. industry may be able to survive — or even thrive — if drillers can learn to quickly adapt."