After some doubt and skepticism, shale gas production appears to be booming in various regions across the country from Lycoming County, Pennsylvania to Midland, Texas to Pavillion, Wyoming – according to Forbes.com. A few years ago, industry experts were casting some doubt on the viability of the on-going production of shale gas, but now the roar in production appears irrefutable. Today, many oil and gas industry experts believe this increase is only the “tip of the iceberg.” The most optimistic experts predict that the U.S. could become a major oil and gas exporter and losing its dependency on international oil.
Oil and Gas Project Financing Remains a Concern
According to McKinsey.com, many concerns remain for this new drilling and oil exploration method, including environmental worries and a not-in-my-back-yard mentality. The methods used for obtaining shale gas and oil may make local residents feel on edge. After all, horizontal drilling and hydraulic fracturing require large land use and use of large, heavy trucks, pipe and drilling equipment. Yet the opportunities for oil and gas, factoring in environmental and local considerations, remain undeniable.
Oil and gas financing is likewise on the rise as these companies seek creative ways to pay for all that goes into shale gas drilling. In fact, financing oil and gas projects is experiencing its own sort of industry growth as invoice factoring companies, oil and gas loans, and other options are clamoring for opportunities in oil & gas funding.
Oil and Gas Funding Is a Billion Dollar Industry
There seems to be plenty of need for oil and gas financing to go around. From covering the costs of expensive equipment, drills, wells, and pipeline that stretch for miles and miles, these endeavors will need to be financed. Again, some industry experts are estimating that between $133 billion and $210 billion over the next 20 years could be used in financing oil and gas projects.
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