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Shale Profits Finally Blossoming After Decade of Steep Losses

  • Crude drillers seen reaping ‘phenomenal’ cash flow: Scotiabank
  • Profits prized over production, at the expense of consumers
A Shale-Oil Boomtown As Oil Bust Proves To Be Good
Photographer: Daniel Acker/Bloomberg

US shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses. 

The top 28 publicly traded US independent oil producers generated $25.5 billion in free cash flow in the three months to June 30, according to estimates compiled by Bloomberg. In that space of time they’ll have made enough cash to erase one-fourth of what they lost over the previous decade.