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Recently, market experts have said that, influenced by adjustments in long-term oil demand forecasts, U.S. shale oil and gas companies are accelerating the acquisition of overseas assets to ensure a stable supply; domestic fracturing technologies are spreading globally, from South America and the Middle East to Australia. Market participants say Continental Resources is a typical example. Under the leadership of Harold Hamm, a key figure in the shale industry, the company has continued to increase production in the Vaca Muerta shale field in Argentina, which is the world’s second-largest shale oil and gas reserve area after the Permian Basin in the United States. In the past three months, Continental Resources has completed two asset acquisitions in the region. In addition to Argentina, the company has recently signed two exploration agreements in Turkey, covering the Diyarbakır Basin in the southeast and the Thracian Basin in the northwest. Preliminary assessments indicate that the Diyarbakır Basin may hold potential recoverable reserves of up to 6 billion barrels of oil equivalent and 12 trillion to 20 trillion cubic feet of natural gas, while the Thrace Basin could have natural gas reserves of 20 trillion to 45 trillion cubic feet. Brian Sheffield, former CEO of Parsley Energy, is targeting Australia’s unconventional energy sector. Reportedly, he has become the largest shareholder of Australian company Tamborlan Resources, which holds drilling rights covering nearly 2 million acres in the Betulu Basin. The Betalou Basin is a global hub for giant shale gas reserves, with already discovered and potential resources exceeding 500 trillion cubic feet. The U.S. shale giant EOG Resources has recently begun shale drilling in the UAE and plans to explore for shale oil in Bahrain. Its executives stated that they have secured abundant resources in both locations, and the interests of the partners are highly aligned. Although the Middle East is renowned for its conventional oil and gas, its unconventional resources also hold great potential. The main reason for U.S. shale companies to expand overseas is the peak in domestic production and the shrinking supply of high-quality reserves. Analysts at Wood Mackenzie point out that the high productivity of the Permian Basin in the past kept the industry focused on domestic markets for a long time, delaying its expansion on a global scale; now, the \"Global Shale 2.0 era\" has arrived. Data shows that the production capacity per well in the Permian basin dropped from 65 barrels per lateral foot in 2016 to 46 barrels last year, with overall production capacity falling by 15% between 2020 and 2024. According to Enverus data, the low-cost, high-quality reserves held by large U.S. shale companies are sufficient for only about 7.5 years of extraction, while smaller companies have reserves that will last less than 2.5 years. This overseas expansion also represents the global dissemination of fracturing technology. American companies have developed the most advanced technologies and experience in shale extraction, and they are actively applying these skills overseas: Liberty Energy supplies modern fracturing equipment for projects in Australia’s Betta Loo Basin, EOG shares drilling technologies with the UAE’s national oil company, while Schlumberger assists in the development of shale gas fields in Saudi Arabia, helping the country to significantly increase its natural gas production. The industry generally believes that the global expansion of U.S. shale will continue to intensify. There has been a significant shift in oil demand forecasts, from an earlier expectation of peaking in 2030 to a projection of continued growth at least until 2050. Coupled with factors such as the reduction in OPEC’s idle production capacity and the maturation of shale drilling in the United States, expanding overseas has become the only way to maintain production growth. Industry experts point out that the best oil and gas fields in the United States have been largely developed, and over the next 3 to 5 years, U.S. shale companies will need to expand overseas and leverage their technological advantages to explore new shale basins around the world in order to meet the growing demand for oil and gas.