The US Energy Information Administration (EIA) continues to expand its assessment of technically recoverable shale oil and shale natural gas resources around the world. The addition of four countries—Chad, Kazakhstan, Oman, and the United Arab Emirates (UAE)—to a previous assessment covering 42 countries has resulted in a 13% increase in the global assessed total resource estimate for shale oil and a 4% increase for shale gas. A total of 26 formations within 11 basins were analyzed in these 4 countries. Although these formations contain significant volumes of technically recoverable resources, there is currently no shale exploration underway in any of the four countries, meaning the new assessed resources are not yet economically recoverable. The portions of these resources that become economically recoverable in the future will depend on crude oil and […]