One thing I learned about Americans is that they mess up and produce a lot of crap. But they are also great at using the crap they produce as fertilizer for their next wave of successes. And so it will be with shale. Big companies have sunk billions in it, now they sell off assets for a dime on the dollar and new players will be able to work them with cheap acreage and a massive learning curve behind them.
The price to drill an acre of land in the biggest U.S. shale basin has tumbled amid the oil rout, creating conditions ripe for more mergers and acquisitions.