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US Shale Oil and Gas — Note on Financial Fundamentals

  • Most shale companies studied were unable to capitalise on full potential of high oil prices
  • Maintaining shale production was mainly financed through ever increasing levels of debt
  • High  capital expenditures have not been rewarded with high returns
  • Going forward, we expect many shale companies to struggle to stay afloat

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by Alexander Wilk // 3 July, 2013

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