U.S. oil drillers to pivot from shale to offshore projects, EIA reports

November 1, 2023/in /by Rudolf Huber

One more report from the EIA while EXXON does the exact contrary of what they say. Are there drillers that go for the offshore patch? Sure there are and some players might show a slight predilection for that. That said, both offshore and shale are highly specialized domains in oil drilling that require a very specific skillset in their respective domains. Often, those skills are not transferable from one to the other on an as-is basis. The fact is that the energy needs of the world will still be very substantial in the years to come and we will need every drop we can get so I see an oil industry going for both – and some more. It’s a colorful world out there. No black and white.

As shale growth slows, deepwater drilling is enjoying a renaissance, with more than $500 billion in global offshore investments expected through 2025.

worldoil.com

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