The growing emphasis on completion technology in North American E&P could be a double-edged sword. As shale euphoria swept through the North American E&P industry during the late 2000s, the primary advancement in shale development strategy involved scale. Production was enhanced with longer laterals and increased segmentation. As a consequence, demand surged for standard shale development equipment. Given this emphasis, equipment providers have been the primary beneficiaries of the shale revolution to date. However, as equipment utilization and pricing normalizes, value creation could transfer toward technology.
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