Shale companies are bullish on the oil price and expect a big cash payoff next year
US independents stick to the script
Shale producers are cautiously eyeing Opec+ before lifting capex while substantially trimming hedging
Any expectations that booming oil and gas prices might prompt the US shale patch to accelerate drilling heading into 2022 have been largely dashed by the third-quarter results announcements of a swathe of independents. “This industry tried a market share war with Opec before and it did not work out,” says Kaes Van’t Hof, CFO at Texan independent Diamondback Energy. “Why do we not let Opec bring back their spare capacity, stay flat, and see what the future holds in 2023 and beyond?” The sentiment was shared by many independent operators, concerned that lingering economic volatility could still hamper global energy demand and that the Opec+ alliance could quickly renege on its supply pledge. “
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
