US crude production will not revisit its nearly 13mn b/d record again, and will at best reach 11.5mn b/d on a sustained level over the next 5-10 years, said Parsley Energy chief executive Matt Gallagher. The cautious return of energy demand after this year's Covid-19-related crash, combined with the high decline rates for wells drilled in shale formations, makes it unlikely the industry can return to the 13mn b/d monthly record set in November, Gallagher said today at the Energy Intelligence Forum. Production may be able to reach as much as 12.5mn b/d, but not on a sustained basis, he said. US crude production was ... (full story)