Fed Survey Shows Oil And Gas Firms Planning A Modest 2022 Comeback

Fed Survey Shows Oil And Gas Firms Planning A Modest 2022 Comeback

The Dallas Federal Reserve Bank published results of a new poll this week showing that almost half of 131 oil and gas firms surveyed plan to increase oil and gas production during 2022. It's a finding that will no doubt cause a great deal of consternation among ESG investor groups and the climate alarm lobby. The finding comes at the end of a year, 2021, during which the prevailing watch words in the oil and gas U. S. upstream sector were "capital discipline," "debt reduction" and "maximize returns to investors." Those three overarching objectives, along with the creation of free cash flow, certainly appeared to dominate the shale landscape throughout the year, as companies scrambled to focus on demands from the investor community, with a strong emphasis on their ESG-related goals. Given the past history of the shale sector during times of rising commodity prices, it seemed a remarkable display of maintaining discipline by the hundreds of E&P companies that drill for oil and gas in the U. S. One potential wild card in this finding is that the Fed does not provide information breaking down the companies surveyed between corporate producers and those that are privately-held. ESG investor group