Shale firms are focusing on "cash flow first, growth second", says Hess CEO John Hess
US shale presses the reset button
Upstream producers stress permanent financial change even as those with the greatest acreage and deepest pockets begin to stir
Much has changed for the US shale industry since it first started booming around a decade ago. Even before the Covid-19 pandemic, the industry was moving away from unrestrained spending, focusing instead on capital discipline. Today, this is even more of a priority. What comes next for US shale was discussed at the CeraWeek by IHS Markit conference, held virtually in the first week of March. The picture that emerged was one of restraint, even as market conditions improve and oil prices rise to levels not seen in over a year. “Most of us have said we are not going to grow in 2021 because the market remains really imbalanced,” said Ryan Lance, ConocoPhillips’ CEO. This was echoed by others, in
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
