US Shale Pumps More Cash Into Aging Oil Fields, Rystad Says

A pumpjack in the Permian Basin near Orla, Texas.

US independent shale oil producers plowed money into output growth in the second quarter at the fastest rate in three years, a departure from the fiscal discipline that’s been the industry’s focus, according to a report from research firm Rystad Energy.

Reinvestment rate surged to 72% in the second quarter, highs not seen since 2020, according to the study focusing on 18 companies that collectively account for about 40% of US shale output.