Shale oil costs more than conventional oil to extract, ranging from a cost-per-barrel of production from as low as $40 to over $90 a barrel.
As of December 2019, dozens of publicly traded oil companies are suffering from staggering losses from stagnant crude prices. Shale oil drilling and extraction is also far more labor-intensive than conventional oil extraction, making the process necessarily more expensive.
For many, low prices along mounting debt has led to a downward spiral in stock value. I believe the best way to play the end of shale oil in America is through XLE or XOP. but for those who want exposure close to the action, here’s my suggested list of the weak of the weak.
Note: OPEC is currently meeting to decide the fate of oil supplies
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POTENTIAL BANKRUPT COMPANIES
Antero Resources Corporation is an independent oil and natural gas company. It is primarily engaged in the exploitation, development and acquisition of unconventional oil and liquids-rich natural gas properties primarily located in the Appalachian Basin in West Virginia, Ohio and Pennsylvania
Diamondback Energy, Inc. is an oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas.
Gulfport Energy Corporation is an independent natural gas and oil company focused on the exploration and development of natural gas and oil properties in North America and is one of the largest producers of natural gas in the contiguous United States.
Matador Resources Company is an energy company engaged in the exploration, development and acquisition of oil and natural gas resources in the United States. It focuses on oil and natural gas shale plays and other unconventional resource plays.
Oasis Petroleum Inc. is an independent exploration and production company focused on the acquisition and development of oil and natural gas resources. The Company is currently focused on exploiting resource potential from the Bakken and Three Forks formations, which are present across a substantial majority of its acreage. Oasis Petroleum Inc. is based in Houston, Texas.
Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas.
Range Resources Corporation is a leading U.S. independent oil and natural gas producer with operations focused in stacked-pay projects in the Appalachia Basin and Northern Louisiana. Range Resources Corporation’s strategy to achieve business objective is to increase reserves and production through internally generated drilling projects coupled with occasional complementary acquisitions and divestitures of non-core assets.
California Resources Corporation is engaged in exploration and production of oil and gas. The Company produces, gathers, processes and markets crude oil, natural gas, natural gas liquids and electricity primarily in the State of California. California Resources Corporation is based in Los Angeles, California.