For the US shale industry, the third quarter was more of the same: new record highs in oil production, but another quarter of negative cash flow.
A sample of 38 publicly-traded oil and gas companies posted $1.26 billion in negative cash flow in the third quarter, according to a study by the Institute for Energy Economics and Financial Analysis (IEEFA). The performance was a deterioration from the previous quarter, which saw marginal positive cash flow. In fact, the results from the second quarter, while unimpressive, were actually the industry’s best showing.
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