Peak Shale: Anadarko Just Became The First US Oil Producer To Slash CapEx
It appears that Horseman Global's Russell Clark may have been spot on with his bearish assessment of the US shale sector.
As a reminder, in his latest letter to investors, Clark said that "the rising decline rates of major US shale basins, and the increasing incidents of frac hits (also a cause of rising decline rates) have convinced me that US shale producers are not only losing competitiveness against other oil drillers, but they will find it hard to make money."