U.S. Shale Outperforms Expectations In Q1

Following the publication of the energy industry’s first quarterly results since the Covid-19 outbreak, a Rystad Energy analysis reveals a surprising contrast. While the oilfield service (OFS) market has taken a massive hit in earnings and profit margins, US shale operators had an impressive quarter under the circumstances, which even ended up in increased dividends. A preliminary analysis of 204 service companies finds that revenues are down 6% compared to the same period last year, while impairment charges have skyrocketed. Profit margins…