Liam Denning, Columnist

Frackers Can Reap the Oil Rally - If They Ignore It

Investors are still punishing their stocks for past pumping booms that hurt prices.

April 9, 2019 at 1:54 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

Will the sun shine on frackers this earnings season?
Photographer: Spencer Platt/Getty Images North America

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We are a couple of weeks away from earnings season kicking off in the oil patch. Might this be when fracking stocks catch up to oil prices? It will depend largely on how hard fracking companies try to catch up to oil prices.

Oil prices have risen more than half since their late-2018 slide bottomed out on Christmas Eve. Exploration and production stocks have risen by just 26 percent over the same period and effectively gone nowhere since mid-January, while oil continued rising.