Shale oil producers in the United States and Canada are likely to stick to their slow growth plans this year because they lack the sand, steel, drilling rigs and pressure-pumping capacity required to grow faster, according to the Journal of Petroleum Technology.
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Hamm: We Can Double Oil Production to 20 Million Barrels a Day
U.S. drillers have the ability to double the country’s oil production to 20 million barrels a day, but doing so too soon would tank oil prices, Continental Resources CEO and fracking advocate Harold Hamm said.
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