Private energy companies and their backers are emerging as leaders in global shale development, taking early positions in overseas basins while publicly listed U.S. producers focus on domestic acreage. This shift from wildcatters to larger firms is seen as a repeat of the early years of the US shale revolution. Wood Mackenzie predicts that non-U.S.-led non-US shale output by 2030 will be in the range of 5-6 million barrels of oil equivalent per day, close to the 6.6 million boepd currently produced in America's Permian basin heartland. Formentera Partners, a private equity firm co-founded by former Parsley Energy head Bryan Sheffield, has acquired a position in the Beetaloo basin of northern Australia. Publicly traded firms are moving more slowly, with many expressing reluctance to pursue international expansion. However, some companies have shown a willingness to explore opportunities abroad.