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
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
