Shale Development To Accelerate U.S. Capex Spending
The spending outlook for 2014 is anticipated to grow by 7% in North America, according to Barclays Research’s 2014 Global E&P Spending Outlook. This is rather rosier than 2% and 4% in 2013 and 2012, respectively. Meanwhile, global spending is expected to grow by 6%. According to the report, large independents with domestic budgets above $1 billion will lead the spending gain, although small E&Ps will follow suit.