Bloomberg: Shell to Keep Shale Drilling Investment Stable Amid Gas Glut

Royal Dutch Shell Plc., Europe’s largest oil company, won’t increase its spending on drilling shale fields this year due to low natural-gas prices.

“It wasn’t so long ago that gas prices were still at a level where everybody was drilling almost as fast as you could reasonably make it happen,” Marvin Odum, the president of the company’s North American operations, said in an interview today.

“Now you’re starting to see some upstream reaction to where the prices are,” said Odum, in an interview at CERAWeek, a Houston conference held by IHS Cambridge Energy Research Associates.  MORE