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Analysis: First tech, now financing - U.S. shale firms get creative to pump more oil

Reuters  |  HOUSTON 

By Ernest ScheyderHOUSTON (Reuters) - U.S. shale producers survived an oil price crash and confounded OPEC's efforts to drain a global glut by employing innovative drilling and production techniques. Now, some of these producers are turning to creative investments to pump more oil. Drilling joint ventures, called "DrillCos" for short, combine cash from investors like Carlyle Group LP with drillable-but-idle land already owned by producers. Investors get a pledge of double-digit returns within a few years, while producers can raise productivity without spending more of their own money.The ...

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First Published: Thu, July 13 2017. 16:42 IST