A new study published today by Rystad Energy forecasts that there will be more than a million kilometers of new oil and gas wells drilled by 2023 globally; the distance of these wells combined is more than the distance to the moon and back. Behind this push for oil and gas wells is North American shale, which, Rystad says, is expected to account for 600,000 kilometers of the million. (Click to enlarge) Rystad’s Head of Consulting, Erik Reiso, refers to the drilling onslaught to be seen in North America as “in a league of its own thanks to the shale boom,” with six of ten of the new wells in North America drilled in shale basins—wells that are typical longer than other types of wells. Related: ‘’The Fat Margins Have Disappeared’’ – Big Oil Disappoints While the top four offshore operators are expected to account for a quarter of […]