Lower oil prices could drag down U.S. shale drillers at a time when their finances are already looking shaky. But the impact on oil production growth is still murky. WTI is in the low-$50s per barrel, which means that the average shale driller is likely burning through cash. In the first quarter, most U.S. E&Ps were cash flow negative , a period of time when WTI averaged $54 per barrel, right about where oil is trading today. The rig count continues to fall. In the week ending on June 7, the U.S. oil rig count plunged by 11, falling to 789. The rig count has declined by roughly 11 percent, or 100 rigs, from a recent peak reached last November. In the Permian basin, where much of the action is, the rig count fell by more than 9 percent over that timeframe, from 493 to 446. Complicating matters further […]