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US independent shale oil producers plowed money into output growth in the second quarter at the fastest rate in three years, a departure from the fiscal discipline that’s been the industry’s focus, according to a report from research firm Rystad Energy.
But rising reinvestment rate is unlikely to last. “As inflationary pressures ease in the coming quarters and oil prices rebound, this spike will be a short-term anomaly instead of a shift of strategy,” said Matthew Bernstein, senior upstream analyst at Rystad. This means shale companies will likely stay focused on paying out shareholders in the form of buybacks and dividends as they have in the past two years.
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U.S. Shale Pumps More Cash into Aging Oil Fields
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