Fuel for Thought

  • Shale Production is a Driving Factor in US Oil and Gas Revenue Increase

Shale Production is a Driving Factor in US Oil and Gas Revenue Increase

Apr 30 2014 Read 2204 Times

Shale production may be taking over within the oil and gas industry as a top revenue driver, with the number of US companies citing shale as a driving factor rising by 15% within the past year, according to a recent survey released by both UHY LLP Certified Public Accountants and the Oil & Gas Financial Journal.

In the survey, which analysed results from 178 oil and gas related companies, it was revealed that over half of US oil field service companies and 40% of upstream producers view shale development and production, commonly referred to as “fracking”, as a major contributor to 2014 revenue; so much so that over 40% of US oil producers and equipment providers are intending to spend the greater part of their budgets for 2014 on shale production and development.

Midstream and downstream businesses, such as pipeline operators and refiners, on the other hand, claim that shale accounts for less than 25% of their yearly revenue. 

Reader comments

Do you like or dislike what you have read? Why not post a comment to tell others / the manufacturer and our Editor what you think. To leave comments please complete the form below. Providing the content is approved, your comment will be on screen in less than 24 hours. Leaving comments on product information and articles can assist with future editorial and article content. Post questions, thoughts or simply whether you like the content.

Post a Comment




Digital Edition

Petro Industry News November 2019

November 2019

In This Edition Fuel for Thought - Leading European sensor trade event taking place in 2020 already selling out fast - Endress+Hauser and Vector CAG secure contract at large Texas refinery...

View all digital editions

Events

SLAS 2020

Jan 25 2020 San Diego, CA, USA

European Gas Conference

Jan 28 2020 Vienna, Austria

EGYPS (Egypt Petroleum Show)

Feb 11 2020 Cairo, Egypt

Smart Factory Expo (SFE 2020)

Feb 12 2020 Tokyo, Japan

ME-TECH 2020

Feb 18 2020 Abu Dhabi, UAE

View all events