February 4, 2020 / 4:09 PM / 4 months ago

Shale pioneer John Hess says key U.S. fields starting to plateau

Feb 4 (Reuters) - Shale pioneer John Hess said Tuesday that key U.S. shale fields are starting to plateau, calling shale “important but not the next Saudi Arabia.”

Production in the Eagle Ford Shale in South Texas is starting to plateau, while the Bakken field in North Dakota where Hess is a major producer will hit its peak production levels within the next two years, he said.

The Permian Basin, the top U.S. shale field in Texas and New Mexico, will plateau in mid-decade, Hess said. (Reporting by Jennifer Hiller Editing by Chizu Nomiyama)

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