US shale plays undergo ‘Darwinian’ adjustments

J. Stell, Contributing Writer At year-end 2014, oil and gas supply and demand were slightly out of balance, but the resulting drop in oil prices—which saw a decrease of nearly 50% at one point—was mostly a reaction to projections of future oversupply, according to Keith King, managing director at Dallas-based Moyes & Co. Nonetheless, King says energy executives know that if low prices persist, many oil and gas projects will not be viable, which could impact long-term supply. This impact, in turn, would reduce the need for gas processing. In fact, Mr. King expects that smaller budgets will lead to the reigning in of production growth during the coming year. Supporting that projection, R