Once primarily the province of under-capitalized independent producers who refined horizontal drilling and hydraulic fracturing technology to tap into the once-marginal tight gas reservoirs in Appalachia, the Central U.S. and Western Canada, the massive reserve has now sparked attention from the major industry players.
ExxonMobil, through its acquisition of XTO Energy in 2010, other supermajors, and a host of gas-short Asian players have since taken positions in the U.S. and Canadian shale gas play, with total capital commitments exceeding $100 billion.