U.S. Shale Industry To Spend $83 Billion In 2022

US shale expenditure is projected to surge 19.4% next year, leaping from an expected $69.8 billion in 2021 to $83.4 billion, the highest level since the onset of the Covid-19 pandemic and signaling the industry’s emergence from a prolonged period of uncertainty and volatility, according to a Rystad Energy report. As the impact of the pandemic on demand and activity levels out, US Land players are poised to loosen their purse strings. As the Omicron variant of the novel coronavirus tightens travel restrictions and raises concerns over a potential…