Insight
Has unconventional oil and gas finally gone global?
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Report summary
Unconventional exploration outside of the US Lower 48 is seeing a resurgence. And importantly, the momentum is coming from a position of strength. Numerous non-North American shale and tight projects are actually larger than competing US basins today, disproving an upstream perception that exploratory shale plays from the 2010s never reached materiality. We understand the thinking. Failed international exploration plays like Poland were very high profile. The combined numbers for non-US unconventional assets today are impressive. In aggregate, non-US shale and tight production in 2030 could rival what the Permian is producing today. That’s an incredible feat in itself. But there’s actually upside, too.
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