“Shale plays represent a disturbing tendency in the E&P business away from critical thinking. The belief in reward without risk is irrational. Failure to acknowledge the marginal economics of the play is bewildering. Unless opinion leaders confront the underlying economic and geological risks of these plays, I fear that a financial crisis may develop that will discredit the E&P industry.”

Ellis Hugh; Shale News & Well Reports & The Geology of the Shale