Caution, capital discipline, cash flow, shareholder returns – these buzzwords are thrown around a lot these days, much more so than details about aggressive production growth. After years of a debt-fueled shale boom, drillers are under intense pressure to only spend within their means. For years, investors and shareholders have been demanding prudence from shale companies rather than growth-at-all-costs. But over the past year, the changes have finally become visible in the shale patch. Shale profits have been elusive , but the industry could post positive cash flow essentially for the first time this year. The turnaround is the result of cost-cutting, lowering breakeven costs, and a rally in oil prices over the past year. But that doesn’t meant that Wall Street is still in love with the shale industry, at least not the way it used to be. After getting burned by shale drillers for years, major investors […]