Jan
06
Shale Producer Gets Wall St. Help in Re-Arming for OPEC War
By-
Pioneer becomes first shale producer to raise equity in 2016
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OPEC is counting on U.S.shale pain to rebalance oil markets
The shale industry is getting Wall Street’s help in re-arming for its oil-market war against OPEC, offering one more reason to be bearish on crude prices.
Pioneer Natural Resources Co. announced on Tuesday it was tapping investors for $1.4 billion in fresh equity to help finance an increase this year in spending and production in Texas, where wells are still profitable. The share sale shows capital markets are still willing to back the shale industry as crude trades at the lowest in 11 years…
Shale Producer Gets Wall St. Help in Re-Arming for OPEC War
