U.S. shale market to grow at CAGR of 13.3 percent in 2013-2018

Oil Well Pumper and Brahma Cattle in West Texas.
Source: DollarPhotoClub

Tremendous advances in technology have led to an increase in the extraction of shale oil from oil reserves in the US. These advances include unlocking the potential of unconventional oil, managing produced water, development and determination of oil, well log interpretation, and development of well simulation models. Vendors are increasing their R&D investment to reduce the time and cost of horizontal drilling. Advanced technology has increased the yield of shale oil and reduced risks involved significantly.

Analysts forecast the Shale Oil market in the US will grow at a CAGR of 13.3 percent over the period 2013-2018. According to the report, the growth of the Shale Oil market in the US is driven by several factors. One of the main drivers is the depletion of conventional oil reserves in the country. Because of the depletion of oil reserves, focus has shifted to unconventional oil resources, such as shale oil, to reduce dependency on conventional oil resources.

The Shale Oil market in the US can be divided into four segments based on end-user into the Transportation sector, Industrial sector, Power Generation sector, and Others.

Shale Oil Market in the US 2014-2018 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the key states for shale oil production in the US, namely, Texas, North Dakota, and Kansas; it also covers the Shale Oil market in the US landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

The report recognizes the following companies as the key players in the Shale Oil Market in the US: Devon Energy Corp., EOG Resources Inc., ExxonMobil Corp., Hess Corp., Marathon Oil Corp., SM Energy Co., American Shale Oil, Chevron Corp., ConocoPhillips Co., Continental Resources Inc., Murphy Oil Corp., Noble Energy Inc., Shale Technologies LLC, Viru Keemia Group , Whiting Petroleum Corp.

Article continues below this message

Have your opinion heard with Shale Gas International

We accept interesting, well-written opinion and analysis articles of up to 1,500 words, that offer unique insights into the shale industry. The articles cannot be overtly promotional in nature and need to fit into at least one of our content categories.

If accepted, the article must be exclusive to Shale Gas International website and cannot appear on any other websites, publications, etc. Each article may contain up to three links to external websites relevant to the content discussed in the piece.

If you would like to contribute to Shale Gas International website, please contact us at: editor[at]mw-ep.com