Liam Denning, Columnist

A 10-Year Plan to Save Oil Frackers (From Themselves)

Shorter time horizons could attract investors back to E&P stocks.

March 3, 2020 at 12:30 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.

The near horizon.
Photographer: Bloomberg/Bloomberg

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The oil and gas business could use some hope right now. And who more comforting to provide it than an activist fund? Kimmeridge Energy Management Co., having tangled already with several exploration and production firms, is hunting for a new target. The fund has just released its thoughts on what ails the industry and how to fix it.

Kimmeridge’s diagnosis is inarguable. The shale decade unleashed an unprecedented torrent of U.S. oil and gas; profits, not so much.