U.S. shale producers saw reinvestment rates hit an all-time low in the third quarter and saw record levels of free cash flow A group of 21 public U.S. shale companies that are expected to produce 40% of 2021 output had a reinvestment rate of 46% Despite seeing the strongest cash flow from operations since the second quarter of 2019, these shale producers’ capital expenditure was remarkably low Reinvestment rates among US shale oil producers hit an all-time low in the third quarter of 2021, resulting in a record free cash flow for the quarter, and are projected to fall even lower by year-end according to a Rystad Energy analysis. The analysis focused on a peer group of 21 public US shale oil producers, excluding majors, that together account for 40% of the expected 2021 output. The peer group’s combined reinvestment rate in the third quarter of 2021 was 46%, […]