• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 18 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours U.S. Presidential Elections Status - Electoral Votes
  • 1 day Evergrande is going Belly Up.
  • 1 day World’s Biggest Battery In California Overheats, Shuts Down
  • 2 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 18 hours Poland Expands LNG Powered Trucking and Fueling Stations
  • 3 days And now, hybrid electric locomotives...
  • 49 mins The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 2 days Ozone layer destruction driving global warming
  • 3 days The Painful Death of Coal
  • 2 days The coming Cyber Attack
  • 2 days Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 2 days 'Get A Loan,' Commerce Chief Tells Unpaid Federal Workers
Editorial Dept

Editorial Dept

More Info

Premium Content

U.S. Shale Spending Is Under Fire Again

Friday, June 7, 2019

1. U.S. shale still burning cash

- A cross-section of 29 U.S. shale companies reported more than $2.5 billion in negative cash flow in the first quarter of 2019, which was worse than the fourth quarter of 2018, according to a new report from the Sightline Institute and the Institute for Energy Economics and Financial Analysis (IEEFA).

- For instance, Hess (NYSE: HES) posted $433 million in negative cash flow, while EOG (NYSE: EOG) reported $393 million in negative cash flow. Cabot Oil & Gas (NYSE: COG) and EQT (NYSE: EQT) – two Marcellus shale gas producers – posted $390 million and $500 million in positive cash flow.

- The report also found that between 2010 and 2019, the companies posted $184 billion in negative cash flow.

- “Frackers’ persistent inability to produce positive cash flows should be of grave concern to investors,” the report’s authors wrote. “Until fracking companies can demonstrate that they can produce cash as well as hydrocarbons, cautious investors would be wise to view the fracking sector as a speculative enterprise with a weak outlook and an unproven business model.”

- The recent decline in the oil market could hurt these figures even more if prices fail to rebound.

2. Permian gas flaring breaks records

- Gas flaring in the Permian basin surged to a record high in the first quarter at an average of 661 million cubic feet…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News