United Arab Emirates · Abu Dhabi · Fortune Technology
Inside U.S. oil’s return to global wildcatting: ‘It’s like geo-porn’
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A volcanologist working at the U.S. Geological Survey, Ezra Yacob made a career-defining leap in 2005 when he joined Houston oil producer EOG Resources and its geoscience team at the beginning of the shale revolution.
Key facts
- A volcanologist working at the U.S. Geological Survey, Ezra Yacob made a career-defining leap in 2005 when he joined Houston oil producer EOG Resources and its geoscience team at the beginning
- He said the Abu Dhabi shale rock geology is comparable to South Texas’ Eagle Ford shale
- While EOG remains huge in Texas and is leading a mini oil boom in Ohio, the 20-year-old U.S. shale industry is maturing—but not declining
- I think international exploration is back in the game,” said Bobby Tudor, founder and CEO of the Artemis Energy Partners investment and consulting firm
Summary
A volcanologist working at the U.S. “It was this real acknowledgment that we’re opening up a new frontier in petroleum exploration,” Yacob said at a Hart Energy conference this week in Houston. Now as EOG’s chairman and CEO, Yacob continues to focus on frontier exploration, but it’s shifting internationally, specifically to the United Arab Emirates and Bahrain. “The international stuff is probably front of mind for everybody,” Yacob said. Despite the ongoing war in Iran, there’s bullishness the Middle East will rebound, and the countries increasingly want the help of American shale experts to tap into more oil and gas reserves.