How Did M-U Gas Drillers Spend Their 2022 Record Haul of Cash?

May 10, 2023May 10, 2023

Investors in shale oil and gas companies suffered for years with little or no returns for the money they invested. Five of eight large Marcellus/Utica drillers saw their share prices decrease by an astonishing 85% or more from 2008 to 2019 (see Former EQT CEO: Shale Revolution a “Disaster” for Investors). Just prior to the COVID pandemic hitting, shale companies began to change and focus on less drilling and more profitability. That change paid off last year, in a big way. Shale companies saw record profits in 2022. What did they do with all that money?

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