Shale Investments Have Surged by $100 Billion, Report Saysby Will Brackett
Ever since OPEC began cutting oil production, drilling in the United States has surged.
Norwegian consultancy Rystad Energy estimates $100 billion in investment funds has flowed into the U.S. shale industry over the past year, propping up domestic drilling by 60 percent. So-called completion activity – procedures like hydraulic fracturing that stimulate shale wells – has gone up 30 percent, Rystad said.
And there’s no sign things will slow down. Shale investments could climb another 50 percent this year, Rystad analyst Espen Erlingsen said in a written statement.