Sentences with phrase «back drilling activity»
Global oil producers were able to earn attractive full - cycle rates of returns on capital employed above $ 85 per barrel, but at current prices, the industry is being forced to significantly pare back drilling activity.
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«U.S. growth of 0.6 million barrels a day in 2017 beat all expectations, even with a moderate price response to the output deal as the shale industry bounced back — profiting from cost cuts, stepped up drilling activity and efficiency measures enforced during the downturn,» the group said.
Earthquakes caused by human activities, such as injecting pressurized wastewater from drilling back into the ground, have become almost 10 times more common than they were 20 years ago.