EOG Resources, led by chairman and CEO Ezra Yacob, is expanding its hydraulic fracturing operations internationally, particularly to the United Arab Emirates and Bahrain, where Abu Dhabi’s shale geology proves comparable to Texas’s Eagle Ford formation. After two decades of U.S. shale dominance, the American oil industry is entering a mature consolidation phase, pushing major groups like ExxonMobil, Chevron, ConocoPhillips, and others to redirect their exploration budgets abroad. Alaska, with its immense North Slope potential, and Venezuela are attracting particular attention from explorers, amid Middle Eastern countries increasingly seeking American shale expertise. The industry will need to rebuild its frontier exploration capabilities, which atrophied during the shale revolution.
Source: Read the original article
