The Frost #1H well is located in the Northwest Shelf of the Midland Basis, in Yoakum County, Texas.
Abundant hydrocarbon reserves and the ability to drill longer laterals has made Permian Basin the most prolific shale play in the world, according to GlobalData, the data and analytics company.
In the same week that Shell agreed to explore for shale oil in China, BP is reported to be exiting its two Sichuan basin shale gas blocks. Wood Mackenzie eastern Asia upstream research analyst, Xianhui Zhang, provides commentary.
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Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector are set to benefit from this trend reversal.
Following a drastic drop in the Waha Hub natural gas price earlier this week, Adrian Lara, Senior Oil and Gas Analyst at GlobalData, offers his view on the impact on the upstream sector.
The Vaca Muerta Shale Basin in Argentina is the only unconventional play outside of North America where activity has already made the transition from exploration to full-scale development.