Freight Technologies sees FY25 revenue $20M-$23M
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Oil and gas shales present considerable development potential beyond the US
Shale, a hydrocarbon-rich sedimentary rock formation that transformed the fortunes of the US oil and gas industry in the early 2010s, requires unconventional methods for extraction, such as horizontal drilling and hydraulic fracturing, or fracking. The boom of shale oil and gas extraction in the US Lower 48 led to realignments in the global energy market and encouraged other countries to explore this resource within their territorial boundaries. It also somewhat lowered the influence of the Organization of the Petroleum Exporting Countries cartel in determining global oil prices, reshaped energy alliances and altered trade patterns in the energy landscape. Although the shale boom has somewhat receded in the US, optimism around this unconventional resource remains, driven by technological advancements and significant discoveries in countries such as China, Argentina and Saudi Arabia. This study highlights the developments in such emerging markets for shale plays. At present, the global outlook for shale oil and gas production indicates a positive trend, with notable increases in production expected from top countries over the next few years, including the incumbent leader US. The growth is anticipated to be largely driven by the sustained rise in oil and gas demand from sectors such as transportation and power generation. Besides, shale oil and gas extraction has become more efficient and cost-effective, thanks to advancements in horizontal drilling and hydraulic fracturing. These methods have boosted production and somewhat lowered the break-even price for shale resources. Additionally, adopting digital technologies, including the Internet of Things and data analytics, has refined extraction by enabling precise drilling, reducing waste and enhancing safety. The US stands as the undisputed leader in global shale oil and gas production with a more than 80% share in 2024, thanks to its vast reserves, advanced extraction technologies and supportive regulatory environment. The combination of hydraulic fracturing and horizontal drilling has unlocked unprecedented volumes of shale resources, particularly in formations such as the Permian Basin, the Eagle Ford and the Marcellus Shale. The growth of the shale industry has bolstered US energy independence, reducing reliance on foreign oil and altering the country's geopolitical strategy. Further discussion on the shale theme and the countries where shale development is gaining momentum can be found in GlobalData's new theme report, Emerging Oil and Gas Shale Plays. "Oil and gas shales present considerable development potential beyond the US" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
