Only 10 of the 32 Fracking Companies secured positive cash flows for the quarter

Even though oil prices rose and oil and gas production boomed during the third quarter of
2018, the U.S. fracking sector continued its nine-year streak of cash losses.
A cross-section sample of 32 publicly traded fracking-focused companies spent nearly $1
billion more on drilling and related capital outlays during the quarter than they generated
oil and gas sales.

Feds Discover Largest Oil, Natural-Gas Reserve in History

  • The federal government has discovered a massive new reserve of oil and natural gas in Texas and New Mexico that it says has the “largest continuous oil and gas resource potential ever assessed.”
  • The Delaware Basin contains an estimated 46 billion barrels of oil, 281 trillion cubic feet of natural gas and 20 billion barrels of natural gas liquids.