GE Florence panel session—innovating and investing in unconventionals

摘要

Huge efficiency gains are just a start as independents 'shrink to grow' in the unconventional space. Industry is evolving from inventory starved, cash positive, to an embarrassment of richesse and a shortage of funds. North American energy independence is not likely given today's economics. Being short on ideas and time this month I thought that I would bring you some more from the 'industry at large' folder— specifically my notes from the excellent 'Fast track on the future' panel session at GE Oil & Gas' annual meeting in Florence this month which provided a snapshot of the US shale exploration scene. Kim Hatfield (Crawley Petroleum) traced the history of US shale exploration with a tip of the hat to the late George Mitchell who opened up the Barnett shale play. While the entrepreneurship of Mitchell and others was a force behind shale development, the key driver was 'private ownership and 3-5 year leases' that enabled operators to achieve huge acreage positions and develop them quickly.