After facing two years of slumping commodity prices, US shale oil production is staging a comeback in North Dakota, Oklahoma and other shale regions.
The hotbed of shale activity, the Permian Basin, has already seen big jump in production activity in the past six months. In 2016, the Permian saw $28 billion in land acquisitions, more than three times that of 2015.
At the CERAWeek energy conference in Houston this week, a number of oil companies, including Hess Corp, Chesapeake Energy, Continental Resources and others, outlined their plans to increase production.
