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Why Is The Shale Industry Still Not Profitable?

Posted by BFP Staff on Jan 30, 2018 at 07:38 PM

Shale companies often tout their rock-bottom breakeven prices.

By Nick Cunningham of Oilprice.com
Echoing the criticism of too much hype surrounding U.S. shale from the Saudi oil minister last week, a new report finds that shale drilling is still largely not profitable. Not only that, but costs are on the rise and drillers are pursuing “irrational production.”
Riyadh-based Al Rajhi Capital dug into the financials of a long list of U.S. shale companies, and found that “despite rising prices most firms under our study are still in losses with no signs of improvement.” The average return on asset for U.S. shale companies “is still a measly 0.8 percent,” the financial services company wrote in its report.

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