It is widely accepted that the combination of 3-D seismic imaging, horizontal drilling and hydraulic fracturing in shale formations has brought about a renaissance in the energy industry in recent years. However, the results have been spread out unevenly, and opinions vary as to how long drilling in shale formations can continue to drive the market. Some predict that the energy boom provided by unconventional formations will likely slow in the next few years, while others say that drilling in shale formations will continue to be a dominant force in the industry for many years – and possibly decades – to come. By 2020, gross domestic product (GDP) could be boosted by nearly $700 billion a year, and up to 1.7 million jobs could be added to the economy by 2020 – all thanks to the U.S. shale boom, according to a study by McKinsey & Co. However, while […]