U.S. ENERGY PRESSURE
FT - Throughout the US shale oil and gas boom of the past 15 years, one of investors' greatest concerns has been that the exploration and production companies needed continual infusions of cash to finance their investment programmes.
After the rise in crude prices this year, it looked as though those fears could be put to rest: in the third quarter of this year the US E&P sector was able to cover its capital spending from its operating cash flows, if only barely. The plunge in oil prices over the past two months is…
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