What to Watch in the Bakken Shale This Quarter
After two brutal years, Bakken shale drillers entered 2017 gushing with optimism due to a view that crude prices would stabilize in the mid-$50s. While still nowhere near its peak, that level would be high enough so that Bakken producers could deliver healthy production growth this year while living within cash flow.
Unfortunately, crude is currently about $10 a barrel below that level, which makes those plans seem overly optimistic. Because of that, we could see Bakken producers announce spending decreases when they report second-quarter results in the coming weeks. Here's a look at what to watch at leading Bakken drillers Whiting Petroleum (NYSE: WLL), Continental Resources (NYSE: CLR), Oasis Petroleum (NYSE: OAS), and Hess (NYSE: HES).
Image source: Getty Images.
Source: Fool.com
