US shale firms to increase E&P spending in 2017
Recovering oil prices prompt banks to extend credit lines for the first time in two years
Bengaluru, India
US SHALE drillers are set to ramp up spending on exploration and production this year as recovering oil prices prompt banks to extend credit lines for the first time in two years.
The credit increase is small but with major oil producers worldwide aiming to hold down production in 2017, US-based shale drillers are looking to boost market share to take advantage of higher prices. Greater availability of capital will make that easier.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Anglo American to split group after rejecting BHP bid
Anglo American explores De Beers IPO as part of break-up, sources say
Indonesia's Pertamina ramps up Balikpapan refinery operation after revamp
Gold prices flat ahead of key US inflation data
Bumitama Agri Q1 profit falls 23.5% to 328.4 billion rupiah on forex losses
Flood of Chinese used cooking oil spurs call to boost US tariffs