Shell Exec: U.S. Is ‘Over-Fracked And Over-Drilled’

The U.S. is “over-fracked and over-drilled,” says Royal Dutch Shell plc (ADR) (NYSE:RDS.A) (NYSE:RDS.B) executive Matthias Bichsel. “The reservoirs don’t need that many wells. The reservoirs don’t need that many stages of fracks, because not all the pieces of the rocks are as good,” he said in an interview, reports Yadullah Hussain of the Financial Post.

What is hydraulic fracturing

Hydraulic fracturing, more commonly referred to as fracking, is a controversial process that gets natural gas or petroleum from shale rock, and it has quickly turned the U.S. into a net energy exporter. If the pace...