Shell’s Eagle Ford Shale assets will undoubtedly be a major part of the company’s guidance to grow production by 25% by 2017-2018. 80% of Shell’s capital budget will be spent on upstream development and 60% of that will be spent in North America and Australia. The company’s largest North American development areas are in the Pinedale Field of Wyoming, Eagle Ford Shale of South Texas, and the Marcellus Shale of the Northeast U.S.
Voser commented: “We have worked hard to generate a strong pipeline of investment opportunities for Shell, and we put the emphasis firmly on a competitive financial performance. Shell’s investment programmes create cashflow growth, which in turn funds our dividends. All of this is supported by efficiency gains from our continuous improvement programmes, where the opportunity set runs to billions of dollars for Shell.” [Read more…]