Shale has transformed America into an energy superpower, which pumps more crude than Saudi Arabia
transformed America into an energy superpower, which pumps more crude than Saudi Arabia. Investors are nonplussed. They clamour to buy bonds from Saudi Aramco . At the same time shale producers surveyed by the Dallas Federal Reserve gripe about access to debt. Oil prices climbed in recent months, but shares of many frackers failed to keep pace because of doubts over their ability to realise both growth and a steady income.
Frackers suffered after 2014, when Saudi Arabia declined to cut production and oil prices plunged. Today, even with higher oil prices, they look constrained. Their median return on equity last year was less than half that of the500 stockmarket index, according to Morgan Stanley, a bank. More investors are demanding that they spend only as much as they earn—a novel concept. To many asset managers, shale looks passé.
For big oil companies, which are facing their own pressures, shale nevertheless looks alluring. They lost the title of the world’s most valuable corporations to tech firms. In an era of oil abundance, they are working not just to find new crude, as was their habit, but to produce it as cheaply as possible. The majors appreciate shale’s quick drilling times, predictable cashflows and favourable regulation. “It becomes your throttle,” says Bob Brackett of Bernstein, a research firm.
The Delaware basin certainly looks ripe for consolidation . Last year the largest seven producers accounted for about half of output. Others each produced 4% or less. Wall Street may have cooled on the Permian. Big Oil certainly has not."Permian explosion"
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Chevron to buy Anadarko for $33 billion in shale, LNG pushChevron Corp on Friday said it will buy Anadarko Petroleum Corp for $33 billion ...
और पढो »
$33 billion deal in Big Oil: Chevron is buying Anadarko PetroleumChevron is paying $33 billion to acquire Anadarko Petroleum in a massive deal that will bolster its natural gas and shale operations.
और पढो »
Oil shares jump after Chevron buys Anadarko and merger fever hits oil patchChevron's $33 billion acquisition of Anadarko sparks speculation the oil patch will see a new wave of consolidation.
और पढो »
Stock futures higher | Chevron to Buy Anadarko Petroleum | Banks report earningsStock futures are indicating an opening rally, as Wall Street tries to register another positive week.
और पढो »
Chevron buying Anadarko for $33 billion as crude prices riseChevron aims to grow stronger in deep water exploration in the gulf and southwest Texas
और पढो »
Chevron to buy Anadarko Petroleum in a $33 billion cash and stock dealChevron's agreement to acquire oil and gas producer Anadarko Petroleum values the company at $65 a share.
और पढो »
Chevron to buy Anadarko for $33 billionChevron Corp said on Friday it would buy Anadarko Petroleum Corp for $33 billion...
और पढो »
Chevron to Buy Anadarko Petroleum in $33 Billion DealChevron is acquiring Anadarko Petroleum, an independent oil and gas exploration and production company, in a $33 billion deal.
और पढो »
Chevron announces $33 billion cash-and-stock deal to buy Anadarko PetroleumEnergy giant Chevron Corp. on Friday morning said it would acquire Anadarko Petroleum Corp. in a cash-and-stock tie-up valued at $33 billion or $65 a share....
और पढो »
Chevron buying Anadarko for $33B as crude prices riseSAN RAMON, Calif. (AP) — Chevron will buy Anadarko Petroleum for $33 billion in a cash-and-stock deal as the company seeks to grow stronger in deep water exploration in the gulf and the...
और पढो »
Why oil giant Chevron is buying Anadarko Petroleum for $33 billionThe deal will expand Chevron's footprint in the largest U.S. shale field, grow its Gulf of Mexico operations and expand its LNG portfolio.
और पढो »