Liam Denning, Columnist

Shale's Haves and Have-Nots Fight for Fuel

Capital isn’t quite as abundant as it once was, but some find it easier to come by than others.

November 22, 2019 at 2:00 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.

For frackers, it’s not raining cash quite as much.
Photographer: Christopher Furlong/Getty Images Europe

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

Diamondback Energy Inc.’s stock air-dropped earlier this month after the company shocked investors with disappointing earnings and production problems. It doesn’t help that oil prices have been in the doldrums since June and 2020 looks dicey. So it can hardly be surprising that, in its latest sale of 10-year debt, Diamondback was forced to pay up with a yield of … 3.55%.

Those bond vigilantes are merciless.