U.S. Shale Braces For Brutal Earnings Season

A lot of big names will report third quarter earnings this week, and the results are expected to be worse than the same period in 2018. The timing comes as the shale sector is facing somewhat of a reckoning. After years of price volatility – with more downs than ups – oil prices have failed to return even remotely close to pre-2014 levels. For several years, shale E&Ps took on debt and issued new equity, promising investors that they would profit both from a rebound in prices and from rapid production growth. They delivered on gains…