The current high cost of unconventionals assets appears to have turned supermajor Shell off making any imminent large splashes in the sector.
The Anglo-Dutch giant has consolidated its position in the shale sector by cutting the amount of basins it is active in, but like others in the industry has seen operating expenses drop dramatically to slash breakeven costs.
Speaking at the International Petroleum Week conference in London on Tuesday, Shell upstream director Andy Brown said: “I am quite new to shales – I took over the business in the US just over a year ago, and I have just been amazed at the pace of innovation in that business and the pace of performance improvement.”
