…many energy companies are scaling back and in some cases even giving up. Shell Oil, which leased 600,000 acres for exploration and development, announced in September it was leaving the state because production from its initial wells didn’t meet its target.
By STEVE EVERLY: The Kansas City Star: October 22
The bloom is off those once rosy predictions for Kansas oil production.
Optimistic energy companies invested more than $1 billion in the state over the last couple of years, hoping that new methods and technology would help them recover gushers of oil and natural gas from underground rock.
But that’s turning out to be more difficult than expected. Production, though ample from some wells, has been less overall than hoped.
As a result, many energy companies are scaling back and in some cases even giving up.
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