Here are two good articles that I do not have time to expand on..

This one addresses's Tara's arguments that drilling efficiency will keep US flush in production..

http://oilprice.com/Energy/Crude-Oil/The-Biggest-Red-Herring-In-US-Shale.html

Conclusions

The best way to understand the details and changes in the cost of producing oil and gas is by evaluating data in 10-Q and 10-K SEC filings. Costs have declined since oil prices collapsed and hard times hit the industry. Most of this decrease in cost is part of a larger deflationary trend in commodities and currencies and not because of rig productivity and drilling efficiency as many believe.

To some extent, lower costs compensate for the lower price of oil but none of the tight oil companies evaluated in this study are profitable in the $44-52 per barrel range of reported realized oil prices. They are all losing money.

Rig productivity and drilling efficiency measurements do not account for declining average well productivity. They will only become useful if they can be related to the marginal cost of producing a barrel of oil. For now, they are distractions from the more important subject of tight oil profitability. 

The next one is by some poor analyst getting thrown to the wolves by his detractors.. so he tried again.. (wasn't me.. lol..) and it's on the Natty Gas side of the Shale..

http://seekingalpha.com/article/3493026-refuting-the-natural-gas-bears

basically it's the same story.. not making any $$$ over there either.. and production declines are on the horizon.

Concluding Thoughts

Shale production has a high decline rate, and the debt binge is over. Therefore, 76 Bcf/d production isn't sustainable, as more gas (and uneconomic gas) was produced than what would have been if there weren't the $250 billion in high-yield energy debt issued on Wall Street. Investors' short-sighted thinking trickled them into buying oil & gas high-yield bonds in the pursuit of yield chasing. Over time - and I'm not smart enough to predict when - we will experience production flat-lining, even in the mighty Marcellus shale patch. If you look at the data, other shale plays have already hit a plateau, and production growth stems exclusively from the Marcellus. No one is making money drilling natural gas and NGLs in the current spot price environment when factoring in all costs of production - notably CAPEX, not just OPEX.

Oil prices will be lower longer, as we can see in the longer-dated price curve. So this is actually bullish for natural gas because of the by-product drilling relationship. In terms of oil, everyone knows that OPEC has been producing more than 30 million barrels per day (closer to 31.5 million lately) for quite some time. Everyone knows that Obama's Iranian deal can't be blocked in the U.S. Senate, so we can expect more Iranian production and at least thirty million barrels of Iranian crude stockpiles to be dumped on the market to raise cash. Lastly, the super-majors are smart and need to maintain their equity dividends. Therefore, expect healthy CAPEX cuts in FY16 from Exxon (NYSE:XOM), Chevron (NYSE:CVX), ConocoPhillips (NYSE:COP), and Shell (NYSE:RDS.A). Some have already been announced, and I expect more, as the 2017 price of oil isn't signaling that this is a temporary situation.

Given the sad reality that barring an exogenous shock, the oil price will probably remain range-bound from $40 to $60 over the next few years, by-product natural gas production will not occur at the same rates. Production has held up better due to high-grading, the backlog of almost completed wells getting finished, and the fact that smaller producers have been forced to maintain production to service their debt. However, the super-majors mentioned above don't rely on shale for the majority of their overall global production, and will flex down shale spending. 

Natty Gas is more plentiful.. Price spiked sooner.. remember Enron and Cali in the 00's?  Followed by the Crude peak price.. you can find Gas looking for Crude and somewhat vice versa.. but now that both markets are below breakeven for the US Shale producers.. we've entered a new era.. imho.

the crux from both perspectives in regards to shale still comes back to this..

http://s1095.photobucket.com/user/westexas/media/Haynesville-rig-count-and-natural-gas-production1_zpsb1n95tiz.jpg.html

There is a WIDE variance of opinion about US Shale production going forward.. some believe that somehow the US will be exporting Crude to China in the future...??

IF so.. it will not be at these cheap of prices...

"I could be wrong."