Wednesday, November 27, 2013

Trillions of Dollars to Be Invested in Unconventional Oil & Gas Development Through 2035, Says Report

From SNL:
North America could see a "prodigious amount" of unconventional oil and gas production consuming trillions of dollars in funding over the next two decades, the Deloitte Center for Energy Solutions said in a new report. 
In the report, "The challenge of renaissance: Managing an unprecedented wave of oil and gas investment," Deloitte said fully unlocking the unconventional oil and gas potential in the United States and Canada will call for "a vast and sustained amount of investment" if production totals are to meet analysts' expectations. 
"The [U.S. Energy Information Administration] estimates nearly $5 trillion in upstream oil and gas investment is needed in North America through 2035 to maintain current levels of output and meet future demand growth," the report's authors said. "This investment translates into a prodigious amount of onshore well activity and oil sands development."
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