Schlumberger’s North American frac exit may signal the end of the U.S. shale boom

Its time that the shale patch sees some entrepreneurial ambition again. All this money coming in from Wall Street and this attention it got from the big players was nice but it also made everyone feast on high prices for anything, fat contracts, massive overheads and a feeling that any project with shale written all over it would get money. I have seen my fair bit of stupid shale projects. I love shale just as I love LNG. But every industry has its highwaymen and its a good thing when they get thinned out. Shale is like e-commerce in 2000. It was on its knees then, now it rules supreme.

Linkedin Thread