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Wall Street Has Lost Faith In U.S. Shale

Wall Street

Friday December 8, 2017

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Wall Street wary of shale

(Click to enlarge)

- One of the major energy stories of 2017 could end up being the fact that Wall Street finally became more skeptical of the U.S. shale story.
- After years of pouring money into the sector, investors are starting to grow restless as profits remain elusive.
- There was more than $40 billion in equity issued in 2016, a near record high. But that halved to just $20 billion this year, the lowest total since the global financial crisis nearly a decade ago.
- “You’ve had a decoupling, where the companies have not followed oil prices higher, and the investor apathy has been stunning," Bobby Tudor, chairman of Tudor Pickering Holt & Co., told Bloomberg in a telephone interview.
- Wall Street and other major investors are demanding change, with an emphasis on profits instead of growth.

2. Batteries continue cost declines

(Click to enlarge)

- Lithium-ion battery prices fell 24 percent from 2016 levels, an impressive achievement after years of falling costs.
- Lithium-ion battery packs sell for an average price of $209 per kilowatt-hour, a…

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