A Cabot Oil and Gas natural gas drill is viewed at a hydraulic fracturing site on January 17, 2012 in Springville, Pennsylvania. Spencer Platt/Getty ImagesTight Oil The Future Of Energy In North America -- Financial Post
Tight oil, the new oil source unlocked by new drilling technologies, is bearing such good results it could quickly compete with Canada’s oil sands as a top secure supply of North American oil.
With companies like Devon Energy Corp., Talisman Energy Inc., Encana Corp., Exxon Mobil Corp. pushing big spending toward tight oil, analysts are ratcheting up their production forecasts for the supplies, which are largely based in the United States.
“Tight oil is changing the landscape in North America,” Steve Fekete, managing consultant at Purvin & Gertz, said at an oil sands industry conference in Calgary this week.
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