American oil output in 2020 is expected to hit its slowest growth in four years, another indication the rapid shale expansion is faltering. However, industry insiders believe a third shale boom is just over the horizon.
Kym Bolado, of KTRH's "In the Oil Patch" radio show, expects international players to jump on the shale bandwagon now that Texas producers have worked out the kinks and developed new technology.
“From IoT, artificial intelligence to data gathering and using it for efficiency, we're starting to see the old way they were doing things has turned into the new way of doing things,” she says.
The rest of the world saw how the shale industry helped us get through the recent bombing of a Saudi oil field.
“We were not having to go to the Middle East and go and fight for oil anymore,” says Bolado. “Also, we're not having to be line up miles and miles and miles at the gas pump just to get our gas tank filled up.”
However, Balado warns another shale boom won't happen overnight.
“For a couple more years you'll see mergers, acquisitions and bankruptcies, but these will be the little independents,” she says. “And some of them will just make sense to merge together to survive.”