We have substantial acreage positions in shales basins in North America and Argentina. Today, we are minimising our spending in these plays, and working to reduce the economic breakeven point and delineate the geological sweet-spots, ahead of potentially more significant growth spending after 2020.
Shell’s North America shales acreage includes natural gas potential in the Marcellus and Utica shales, centred on Pennsylvania in northeast USA and liquids-rich shales in the Delaware Permian Basin in west Texas. With the acquisition of BG, we have increased our Marcellus acreage in addition to adding positions in Haynesville and Bossier. We also hold gas and liquids-rich shale positions at various stages of development in Western Canada.
Outside of North America, and following a substantial restructuring of Shell’s options, we have retained a substantial acreage holding in the Vaca Muerta regions of Argentina, which has liquids-rich shales potential.