M-U Driller’s Stock Prices a Mixed Bag Over Past 12 Months

One of the criticisms often leveled against the shale industry is that shale drillers have destroyed shareholder value (the price of company stock) over the past decade or so (see Marcellus/Utica Drillers’ Stock Prices Near/At Historic Lows). The criticism is not without merit. In a talk at an industry event in 2019, former EQT CEO Steve Schlotterbeck displayed a chart showing the change in stock price for eight large M-U drillers. Five of the eight had seen their share prices decrease by an astonishing 85% ore more from 2008 to 2019 (see Former EQT CEO: Shale Revolution a “Disaster” for Investors). Today we offer an update on the share price/value destruction issue. How have large M-U drillers done, with respect to share price, over the past 12 months?

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