Who else wants more shale?

The Majors’ deepening interest in shale was illustrated by Chevron’s $50bn acquisition of Anadarko. Consolidating in the Permian fits our ‘Winner Takes All‘ thesis.

But who else wants more shale in their portfolio? This is not to speculate on M&A, but simply looking at the companies’ research activity last year…


Hence the chart below summarises 300 technical papers into shale, published across a representative sample of companies in 2018.

Shell has been the most active shale researcher by a wide margin — half in the Permian, half internationally.

who else wants more shale

The companies who are not on this list may also be more interested in corporate M&A. This is a technology industry. And if you don’t have your own technology, you will need to buy it…


Please log in to view this content

If you would like to read our latest deep-dive note on shale-technology it is linked here. The full database, covering all 300 technical papers is available here.

Copyright: Thunder Said Energy, 2019-2024.