Forbes: Global Shale Exploration Needs Pragmatism Not Bravado
Of late, there has been a change in the mood of global shale oil and gas enthusiasts. While the enthusiasm has not dimmed, exaggerated claims about potential reserves are fading and there is a new found sense of pragmatism from Poland to China.
Country after country, thought to be holding shale gas reserves, is coming to the realization that even a partial replication of the US shale bonanza in their own backyard will require time and patience above anything else. However, the realization has come about the hard way for some.
Established techniques that made US shale exploration one of the biggest oil and gas story in recent years were found wanting elsewhere. For instance, a differing geology ensured what had worked for American shale rock formations did not quite cut it in Poland. Just ask Eni , ExxonMobil, Marathon Oil and Talisman Energy , all of whom have exited the Polish shale market.