It’s Been a Bad Month for Some of America’s Most-Loved Oil Plays

25 Aug 2017   Shale Oil

Assets tied to shale producers, particularly those in America’s most-coveted oil field, have fallen this August thanks to concerns about oversupply.  The good news for U.S. producers: the chief executive officer of Europe’s second-biggest oil and gas company thinks American shale assets are “quite expensive” following a recovery in the price of crude. The bad news: they’re growing more affordable. Assets tied to shale producers, particularly those in America’s most-coveted oil field, have fallen this August thanks to concerns about oversupply that have emerged as the firms announced second-quarter results. The anxiety is evident across stocks, bonds and in the words and actions of major energy players who now say they’re eschewing the once-popular sector. Total SA CEO Patrick Pouyanne is not alone in the comments he made earlier this week after announcing a North Sea oil acquisition. BHP Billiton Ltd. followed up up by saying the […]

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