Shale Drillers Squeeze Costs as Era of Exploration Ends

Shale Drillers Squeeze Costs as Era of Exploration Ends

Daniel Acker/Bloomberg

The techniques are embraced by the biggest producers from shale such as Chesapeake Energy Corp. and Newfield Exploration Co. to boost shareholder returns by shifting money from exploration, which is winding down, into what’s known in industry parlance as manufacturing.