Some Utica Shale Drillers are Winners, and Some are Losers

Interesting to note that Crain's Cleveland Business comes to the same conclusion that MDN espoused a week ago: BP rolled the dice in the Utica Shale--and they bet wrong (see BP Calls it Quits in the Utica Shale – Total Write-off). The Crain's piece makes a valid observation: Although shale drilling is far less risky than other types of oil and gas exploration and production--it's still a risk. With any risk, some will win and some will lose (contrary to the pap taught today in schools that everyone can be a winner). Shale drilling is high stakes in some respects, a lesson that BP learned the hard way...

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