McKinsey Energy Insights (MEI), the data and analytics specialist that provides distinctive insight and support to the global energy industry, has released its North American Shale Oil Outlook.
Under its Price Recovery scenario, MEI expects shale drilling and completions to grow at 20% per annum and production to increase at 12% through to 2021. US shale oil production is estimated to reach USD $9 million bpd by 2025.
MEI found that operators have reduced drilling time by an average of five days while improving initial production. The outlook was developed by MEI analysts after reviewing forecasting models and other proprietary data from MEI’s suite of oil and gas products.