Posted on 07/16/2015 11:30:32 AM PDT by bananaman22
Shale reservoirs have become an important part of North American oil and gas supply and their development has begun a new era of oil and gas production worldwide. Advances in well drilling and completion technologies supported the rapid development of shale resources which contributed to the almost overwhelming success of U.S. shale in recent years.
Globally, Argentina’s Neuquén Basin and China’s Sichuan Basin are the two front-runners to emulate the successes of the United States, with Poland, Algeria, Australia, Colombia, Russia, and Mexico still in earlier phases of exploration and evaluation, while Saudi Arabia also has plans for domestic shale investment and development. Many more countries have yet to fully review their potential shale strategy and policies.
(Excerpt) Read more at oilprice.com ...
Too bad according to Hubbert we hit Peak Oil In 1970 ...
This author appears to be a misfit with his proclamation ‘This situation also creates opportunities for further improvement, exploring new areas and projects that, due to their nature, do not depend on current oil prices.’
What kind of statement is that anyway?
Obama just allowed Iran to dump loads of oil on the market. Good for Europe, India and China, but going to hurt domestic shale oil production. Coincidence?
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