Shale gas is going global. It's simply too groundbreaking a concept not to spread.
Shale is now the name of the gas game in North America. And Europe is starting to see its first significant shale gas wells drilled by majors like Exxon and Halliburton.
But shale is also starting to pop up in some under-the-radar places. Asia, for instance.
This week, Malaysian deepwater petroleum giant Petronas reported its first-ever quarterly results. In the fine-print, the company noted it will "continue as a global player but with a greater emphasis on domestic deepwater and unconventional plays to arrest domestic production declines."
Meaning, Petronas is looking toward shales and tight gas plays in its backyard.
This jives with reports I've been getting of late. The Malaysians have been flying in U.S. experts on shale gas to beef up their knowledge. (Ditto the Saudis, interestingly enough.)
Southeast Asia has a strong and growing gas market. And plenty of shale. Not a bad place to be for an unconventional gas player.
By. Dave Forest of Notela Resources
Dave is Managing Geologist of the Pierce Points Daily E-Letter. More