Land prices in shale fields across the United States have fallen by more than 70 percent on average since 2018, according to MRT.
The average cost of shale acreage has decreased from $17,000 per acre in 2018 to $5,000 per acre in 2020, according to Rystad, a Norwegian energy research firm.
Additionally, the firm doesn’t foresee demand for oil assets rising any time soon as most energy companies focus on cutting costs amid the coronavirus pandemic instead of purchasing new land for oil and gas drilling.
Learn more: MRT > U.S. shale land prices plunge during oil bust, report says
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