Costs of drilling and completing a horizontal, hydraulically fractured well are much higher than the costs of a traditional vertical well. Despite the costs, these new techniques have made wells highly productive and profitable in zones where traditional vertical wells were economic failures due to modest output. There is a downside, however. While they may start off with extremely high output, shale wells tend to decline in production quickly.
While many oil companies have expressed interest in producing shale oil and gas in Europe, the governments of major European nations have different ideas. Shale drilling has potential in Argentina, where the world-class Vacas Muerta shale field covers 7.4 million acres in the Neuquen basin. While few shale wells have been drilled to-date in Mexico, that nation holds several extremely promising shale fields that are potentially comparable to some of the most productive fields in the U.S.
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