Report: Oil & Gas Supply Shock Coming Unless Drillers Boost Spending

MDN has repeatedly read that Marcellus/Utica drillers (as well as drillers in other shale plays) must drill far less and produce far less in an effort to boost profits for shareholders. Just yesterday we published a story about M-U drillers overspending, by half a billion dollars, in 3Q20 (see 3Q Financial Health of Top Marcellus/Utica Drillers Troubling). Yet today we’re reading about a new report just published by the International Energy Forum (IEF) that says if the oil and gas industry doesn’t increase spending by 25% over the next three years, we face a supply shock (not enough oil and gas) of historic proportions.

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