Be Wary Of Unrealistic Shale Growth Expectations [zero hedge]
Centennial Resource Development, Inc. - Class A (CDEV)
Last centennial resource development, inc. - class a earnings: 2/24 04:14 pm
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US:NASDAQ Investor Relations:
ir.cdevinc.com
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Source: zero hedge
Authored by Nick Cunningham via Oilprice.com,U.S. shale drillers are facing a serious problem: Their wells are not producing as much oil and gas as they had anticipated.When facing shareholder scrutiny, shale drillers have countlessly hyped the litany of technological breakthroughs, efficiency gains and innovative drilling techniques. Indeed, production from U.S. E&Ps has skyrocketed over the past decade, save for interruption during the 2014-2016 bust. But even then, shale executives argued that the downturn made them lean and mean, and that they would use their newfound frugality to ramp up production and profits.But the hype has slammed into reality on a few fronts. First, after years of bankrolling the shale industry in hopes of juicy profits, Wall Street is starting to lose patience. Some companies turn a profit, but the industry on the whole has been losing money since its inception in the mid-2000s. Executives are once again promising that enormous profits are just around the c
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