Oil and gas shale development did not take off because of higher oil and gas prices. Shale production took off because of advances in horizontal drilling and increased drilling efficiencies combined with prolific production rates, making a lot of the shale plays economic to produce at almost any price. Its likely that natural gas prices will continue to fall but there will still be a lot of shale drilling, a new trend that the traditional exploration and production sector has never seen. Hence "a whole new paradigm."
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