On January 1, 2015 6:04 pm
By: Rick Stouffer, Senior Energy Editor, Shale Energy Business Briefing
World Continues Migrating Toward Shale (Tight) Oil Development: Visiongain
Leading shale oil and gas companies worldwide continue to migrate their exploration-production capital expenditure (CAPEX) budgets toward the now de-risked prospect of shale (tight) oil development in the US, according to the latest report from analytics firm Visiongain.
The company estimates by 2015, $68.2billion will be spent on shale (tight) oil development. “The production of these assets produces an ever-more predictable return on investment and does not come with the political and/or security risk of E&P for some locations around the world,” according to Visiongain. “The US remains by far the dominant market for investment and the presence of the supply chain, expertise, and equipment within America to develop assets enhances the predictability of returns.”