As drilling for oil started to become more and more controversial, oil field industrialists began looking for alternatives, and it seems they’ve found a viable one. Shale formations are providing more oil and gas resources on a global scale than what was originally thought. In fact, shale gas estimates were increased by a whopping 10 percent from 2011.
Adam Sieminski, the administrator for the U. S. Energy Information Administration released a statement earlier this month declaring that shale oil and shale gas production has grown in the United States to become 30 percent of oil and 40 percent of natural gas total production. He added, “interest in natural gas resource potential of shale formations outside the United States has grown,” and that a report shows “a significant potential for international shale oil and shale gas.”
With shale drilling becoming such a huge commodity in the oil field industry, many companies are being forced to look into drilling for shale oil. This production growth has lead to a significant boom in energy production in Texas do to the process of drilling using hydraulic fracturing which breaks apart rocks and frees natural gas and oil trapped within the shale. Luckily, this will begin to lead to a drop in natural gas prices in the U.S., and specifically states with an abundance of shale drilling such as Pennsylvania, North Dakota, and Texas.
Be sure to pay attention to the oil industry news in the coming months, as the Energy Information Administration estimates that 41 nations around the globe have sustainable shale for drilling, which will inevitably lead to a rise in jobs and careers in the oil field and drilling industry.