Shale hydrocarbons are found in many regions of the world; however, they are currently produced on a commercial scale only in the U.S. The authors study the resilience of U.S. shale production to external challenges and its key success factors. The two-decade history of the shale revolution demonstrates that, due to unique characteristics such as adaptability, entrepreneurial spirit, and innovativeness, U.S. oil companies have been able to weather all crises that hit the shale sector. Besides, other important success factors include state policies that have created an attractive investment climate, the diverse structure of the sector where supermajors, big, mid-size and small companies operate thus creating powerful synergies through their varied strengths. Of particular significance is the outstanding R&D potential and rapid commercialization of innovations, which have led to cost reductions and efficiency gains. This unique combination of success factors is unlikely to be replicated in other countries, ensuring that the shale sector in the U.S. will continue to actively develop in the foreseeable future.