United States of America (USA) Lower 48 Unconventional Oil and Gas (Major Shale Plays) Market Analys

Oil and gas shale plays across United States L48 play a vital role in the economy of the country as nearly three-fourth of the current US crude production is obtained from the shale plays in the Lower 48 (L48) region. The US crude oil production has witnessed an upward trend in 2022 amid a strong recovery in global energy demand from the COVID-19 pandemic. The OPEC+ group had also considerably reduced its crude output to alleviate the global oversupply situation and lift prices. This encouraged the US operators to expand their drilling activities and thus, oil and gas output. Many oil and gas producers in the US shale plays have increased their capital allocation for 2022, attributing to improving market conditions.

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