As the US shale gas revolution enters its third year, companies are making big bets to try to recreate that success with the billions of barrels of oil locked in the sedimentary rock even though geologists doubt the actual production potential.
New technology has enabled companies to extract gas from previously uneconomic shale plays, triggering a boom in production that has driven down prices in the giant US energy market and triggering a spate of takeovers by oil majors eager to get in on the action.
Big bets on US oil bonanza after shale gas boom - Moneycontrol.com
New technology has enabled companies to extract gas from previously uneconomic shale plays, triggering a boom in production that has driven down prices in the giant US energy market and triggering a spate of takeovers by oil majors eager to get in on the action.
Manufacturer of Oil Tanks India.
The less publicized success story has been booming oil production from shale plays like the Bakken formation in North Dakota. In the course of three years, oil production in the state's Bakken formation has jumped more than 20 fold to 135,000 barrels per day in 2009 from recoverable reserves now estimated at nearly 4 billion barrels.Oil Tanks India manufacturing facility.
Big bets on US oil bonanza after shale gas boom - Moneycontrol.com
