As well productivity in the U.S. shale patch has declined in the past two years, producers are looking to deploy new technology to reverse these declines, but small companies often cannot afford the high upfront costs, industry executives and analysts have told Reuters. While shale production pushed U.S. crude oil output to record highs in recent months to above 13 million barrels per day (bpd), the rate of productivity declines has steepened since 2020 as the fracking of closely located wells has interfered with geology and pressure, resulting…
