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Shale Drillers Struggle To Keep Up With Spending

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May 27, 2014

The U.S. shale patch is facing a shakeout as drillers struggle to keep pace with the relentless spending needed to get oil and gas out of the ground, Bloomberg said May 27.

Shale debt has almost doubled over the last four years while revenue has gained just 5.6%, according to a Bloomberg News analysis of 61 shale drillers. A dozen of those wildcatters are spending at least 10% of their sales on interest compared with Exxon Mobil Corp.’s (NYSE: XOM) 0.1%.

“The list of companies that are financially stressed is ...

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