Drilling for Shale Oil Is Getting More Expensive at the Worst Possible Time
Worsening inflation in the oil sector has management teams warning that any attempts to significantly boost crude supplies may be frustrated
A drilling rig in the Permian Basin near Midland, Texas.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Inflation in the oil sector is worsening and industry executives see no reason to expect cost pressures on everything from steel pipe to frack sand to ease any time soon.
The price spiral has been so swift and dramatic that oil CEOs are being forced to revise annual spending plans higher just to preserve crude and natural gas output targets.