ExxonMobil shows majors still keen on US shale

摘要

ExxonMobil’s purchase last week of US shale acreage despite weak crude prices reflects oil majors’ sustained interest in the unconventional side of the business. Most US independent oil and gas producers have raised their output guidance even while spending less on the back of better-than-expected improvements in technology and the fall in costs of services. The deal by ExxonMobil possibly points to other cash-rich producers snapping up acreage on the cheap in a weak oil price environment to position themselves for a recovery.