“We’ve certainly seen some great days in shale,” he said. Hamm quibbles with the estimates, saying the Permian may not reach its high-water mark until 2035 and will see another 25 per cent pop in production first. This advertisement has not loaded yet, but your article continues below. industry as espoused by Hamm could become a thing of the past. And while that’s likely to support prices and please producers, it suggests the dynamism and growth in the U.S. The current shale slowdown, combined with production cuts from the OPEC+ alliance, is expected to tip the world’s oil market into a deficit by the end of the year. Even in the Permian, the world’s busiest shale basin, production is expected to max out by 2030 and gradually trail off from there. The Bakken has already lost its luster, with output trailing pre-COVID levels. Experts predict output will peak by the end of this decade. shale sector, which is showing signs of reaching middle age. His optimism belies forecasts for the U.S. “I look at it as an industry that is exciting, a lot of adventure, has a lot of potential for making great wealth.” “The future is bright,” Hamm, 77, said during an interview with Bloomberg News this month in his Oklahoma City office. Continental is also drilling wells in Wyoming and in the prolific Permian Basin of West Texas and New Mexico.
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