Refracturing shale wells: not all it's cracked up to be?

An increasing amount of attention has been placed on potentially restimulating mature shale wells.  Our analysis of historically refractured wells in the Bakken, Barnett, and Haynesville leads us to believe that some restimulations can actually have a P/I ratio larger than a new well.  Conversely though, others can erode value and reduce remaining reserves.