http://www.eia.gov/petroleum/drilling/pdf/dpr-full.pdf
EIA is suggesting that by April oil production will practically stop growing. For those who were following that's probabably not news worthy but bound to happen sooner or later after the QE was over, oil prices went down and so did the rig count. Even in its best days shale oil rig average productive lifespan was a bit over a year before it goes into a red zone, you could only imagine how it is now!
But this's just a beginning, all the fun is still ahead of us. After many, many years of QE-funded "shale boom" a bubble of derivatives of not quite known size has been blown (it's 'Murica, you can't just do a productive work and be happy, you need to get rich fast!). So we are yet to see who is the biggest loser here in the risky game of hedging this and that, more on that in Is Citi The Next AIG? that suggests that as usual the biggest loser is the federal budget.
