Shale Costs Forecast to Fall 10% This Year, Wood Mackenzie Says.

The cost of drilling and fracking new wells in US shale basins is expected to decrease by about 10% this year, according to a report by Wood Mackenzie. The report also states that costs are projected to decrease by an additional 1% next year. However, further reductions may be challenging as oil field contractors aim to maintain their profit margins. Both energy producers and service providers are focusing on efficiency improvements to reduce costs, with service providers using these gains to prevent price decreases and producers aiming to increase profits for shareholders. [Extracted from the article]