US shale firms to increase E&P spending in 2017

Bengaluru, India

US SHALE drillers are set to ramp up spending on exploration and production this year as recovering oil prices prompt banks to extend credit lines for the first time in two years.

The credit increase is small but with major oil producers worldwide aiming to hold down production in 2017, US-based shale drillers are looking to boost market share to take advantage of higher prices. Greater availability of capital will make that easier.