August 23, 2016
Giant oil companies are not among the first movers of the shale revolution, but now they are steadily catching up with the more focused and smaller independent companies. The majors are achieving similar well results as the independents in several plays across the U.S. where they operate shale wells i.e. Chevron and ConocoPhillips in the Permian, ExxonMobil in Bakken and Total in Marcellus/Utica. In the past, the main setback for the major companies with shale activity has been the high well costs mainly due to lower operational efficiency and slower decision-making, but those days now appear to be behind them. All oil giants have managed to learn from their successful partnerships with smaller independents i.e. Chevron with Cimarex and Shell with Anadarko, both in the Permian Basin. ExxonMobil and ConocoPhillips are already among the top ten shale producers in the United States. Going forward Rystad Energy expects the major companies to continue improving their well economics, making shale and tight oil one of their major sources of production growth.
Source: Rystad Energy UCube
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About Rystad Energy
Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy consulting and research products.
Rystad Energy’s headquarters are located in Oslo, Norway, with additional research teams in India. Further presence has been established in Norway (Stavanger), the UK (London), USA (New York & Houston), Russia (Moscow), Brazil (Rio de Janeiro) and Singapore.