Initial Production rates for wells drilled in the L48 have increased dramatically due to the shale revolution - the simple truth is that we only need a couple of hundred rigs to replace production for oil and gas. Only the best acerage will be drilled and that means the core of the major shale plays. ConocoPhillips has the EagleFord (which they inherited and almost sold) and a minor position in the Bakken, the rest is junk. The future is in high rate gas and deepwater and ConocoPhillips is positioned for neither #ConocoPhillipsSinking #COP(no)deepwater
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