Sorry, cash-strapped consumers: If you thought OPEC was stingy about oil output, large U.S. shale producers aren’t here to help, either.
EOG Resources and Occidental Petroleum , both of which held investor calls on Friday, capped major shale producers’ results for this earnings season. Both companies are among the top five producers in the Permian basin, the most productive oil field in the U.S., according to data from Enervus. After having bought Anadarko Petroleum in 2019 for $38 billion to bulk up its shale portfolio, Occidental is the second-largest producer in the region.
