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Texas Shale Drillers Lure $2 Billion in New Equity to Permian

  • Pioneer, Diamondback issuances mean `equity window' is open
  • Asset sales generating below-market returns for those who sell
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What Is Fair Value for Oil Medium Term?

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Oil producers in West Texas, defying expectations they would fall victim to OPEC’s price war, are instead selling investors on the idea that they can still profit with prices below $35 a barrel.

Drillers in the Permian Basin, the biggest U.S. shale field, have raised at least $2 billion from share sales over the past eight weeks. And more issuances are on the way as producers try to avoid piling on additional debt.