Bloomberg Businessweek

Fat Wallets Come To the Shale Patch

• Shell and Chevron are picking up where wildcatters left off

• “We can see production above 700,000 barrels a day”

Big Oil is muscling in on shale country. For example, there’s a project called Bongo 76-43, a well being drilled 10,000 feet beneath the table-flat West Texas desert. It extends horizontally for a mile, blasting through rock to capture light crude from the sprawling Permian Basin.

While the first chapter of the U.S. shale revolution belonged to wildcatters like Harold Hamm and the late Aubrey McClendon, who parlayed borrowed

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