Shale Wells Turn to Cash Gushers as Costs Fall in Oil Crash
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The profitability of some U.S. shale wells at current prices will almost double as cost cutting and technology turns them into cash gushers despite oil’s crash.
A report by Citigroup Inc. highlights what companies such as EOG Resources Inc. have been saying for months: that belt-tightening across the industry and more strategic drilling in prolific areas would deliver ample profits even at $50 crude.