North America continues to be the epicenter of an energy revolution, driven by development of oil and natural gas reserves using advanced drilling and completions techniques.  Long considered uneconomic, shale and other tight hydrocarbon-bearing formations are now being developed with increasing levels of efficiency. This development success, coupled with a sluggish economy, has led to an oversupply of natural gas, tempered growth in drilling activity and an uncertain outlook for the energy investor.

What is the outlook, then, for energy investments? Associated natural gas produced from oil shales will continue ...