It’ll Take More Than an Oil Rally to Restart Shale Boom

Explorers in U.S. oil fields stung by the quick rise and fall in the market last year are expected to move cautiously when crude prices begin to climb again.Bill Thomas, chief executive at EOG Resources Inc., the largest landholder in Texas’s Eagle Ford shale formation, told attendees at an industry conference in Houston on Wednesday that his company won’t start boosting output the first time oil hits $60 a barrel.”We’re going to make sure the market is in good shape, it’s balanced, and we’ve got a future,” Thomas said. “We don’t want to ramp it up and drive the price of oil down again.”

Source: It’ll Take More Than an Oil Rally to Restart Shale Boom – Bloomberg Business

This entry was posted in Energy. Bookmark the permalink.