Fracked Shale oil/gas has a declining production curve of around 90% of the initial volume within 7 years.
New wells have to be drilled every year to maintain the same production rates nationally.
I know nothing about this field.
Are new wells being drilled regularly?
90 percent is a LOT. Wow..
In the news today, California files a suit against the BLM for approving a lease to drill on 1.2 million acres of Federal Land in the state.
The oil lease is for one of the richest finds in the state in many many decades. Previous estimates have been debunked as greatly understated, likely for political reasons.
Recent survey estimates revealed a yield hundreds of times previous estimates.