EOG - State Of Flow: What Centennial Resource Development Can Tell Us About Cash Flow Generation In Shale
On the Origin of Species
The shale or Light tight oil (LTO) industry was birthed from the particle matter found on the trash heap of invest-able ideas post 2008. Yes, fracking and horizontal drilling have existed for decades and obviously the source rocks themselves have been there for hundreds of millions of years.
Animal spirits were the missing ingredient.
After being taken to the woodshed in 2008, investors were ready to move on to a brave new world of taxpayer funded bailouts, near-zero interest rates, and the red-carpet entrance of cash burning, “endless growth” companies.