#BUSINESS NEWSNOVEMBER 3, 2017 Ernest Scheyder

Thursday, January 25, 2018

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Reuters (11/3, Scheyder) reported, “US shale producers are telling investors impatient for better returns that they can keep boosting oil output aggressively and do so while still making money for shareholders.” Investors have “pushed top US shale companies to focus on returns, rather than higher output, a move that threatened to slow the breakneck growth in supply sparked by the shale revolution in the world’s top oil consumer.” Reuters added that “at least seven of the largest US shale companies, including Noble Energy Inc and Devon Energy Corp , forecast 10 percent or better production gains this quarter in the Permian Basin of West Texas and New Mexico, the largest US oilfield.” Todd Heltman of Neuberger Berman, a shale investor, said “I’d like to think the industry is changing for the better. Investors are more focused on return metrics.”