Changing the world's oil and gas dynamics

Teamwork: a crew works on an Anadarko shale well in Colorado in the US

AP/SCANPIX

By NOAH BRENNER Houston

 21 February 2013 23:59 GMT

The shale drive has led to grand claims that the US will produce more oil than Saudi Arabia or never have to import another barrel of crude.

These claims, which would have been unthinkable 10 years ago, are theoretically possible, but even if they do not come to fruition, the impact of shale oil and gas production are already visible in the US and in the global flow of hydrocarbons.

The US Energy Information Administration estimates that US production will increase by an average of more than 225,000 barrels per day of oil annually until 2019, when it reaches 7.5 million bpd, with tight oil making up the vast majority of the growth.

Natural gas production, which is already setting…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index