A closer look at costs confirms E&P firms should really thank OPEC right now.
Liam Denning and Rani Molla
Everybody loves an underdog.
America's independent exploration and production companies, exploiting shale, have outmaneuvered Big Oil in reversing a decline in U.S. oil and gas output. They have also innovated their way to surviving the onslaught of low oil prices unleashed by OPEC.