2023 CapEx Spending on Shale Drilling Shifts Dramatically to Oil

In 2022, the first full year after emerging from the worldwide COVID pandemic, the U.S. and world economies rocketed. Inflation rocketed too, but that's a different story. Because of the high price for natural gas and oil last year (in response to Russia illegally invading Ukraine), U.S. shale drillers increased capital expenditure spending by a whopping 54% over what they spent in 2021. What about this year? The analysts at RBN Energy have analyzed the announced spending by 42 shale oil and gas producers (with a market cap of at least $500 million) and find this year, shale drillers will only expand spending by a "modest" 17%. What about spending in the Marcellus/Utica?

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