Oil Stocks hit hard – No Good Deed Unpunished

U.S. shale drillers are cutting back on spending to deliver returns for shareholders, but investors are still selling off the stocks.

The title of a recent research note by Simmons Energy summed up the response: “No Good Deed Unpunished.” Simmons analysts called the reaction from investors “nothing short of punishing.”

Doug Suttles, CEO of shale driller Encana, said frackers certainly need to exercise discipline, but he also turned the message around on investors. read more

Will we see a decline in drilling in 2019 and an increase in fracturing?

U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months as independent producers follow through on plans to cut spending even though oil majors plan to spend more in Texas.

Leave a Reply