Marathon To Reduce Rigs in North Dakota

From Reuters:

Marathon Oil Corp on Wednesday said it would reduce the number of rigs drilling in three shale oil prospects - the Bakken in North Dakota, the Anadarko Woodford in Oklahoma and the Eagle Ford in south Texas - due to lower energy prices and high production costs.

Marathon joins other major oil producers in the Bakken, including Continental Resources Inc and Occidental Petroleum Corp, that have reduced their rig count due to high costs or the introduction of new, more efficient rigs.

The decline in the number of oil-focused rigs in the Bakken has created concerns that growth in North Dakota's oil output will slow.

I guess the boom is over.