XOM - WSJ reports frackers Hold Back production as profits roll in

In a story released Friday, the Wall Street Journal discussed the decision for publicly-traded energy producers to "hold back" production, despite "huge profits." The Journal highlighted comments from Pioneer (NYSE:PXD), Devon (NYSE:DVN) and Continental (NYSE:CLR) this week, which prioritized shareholder returns over production growth. The article noted that rigs operated by private producers rose ~100% year on year in January, though rigs operated by "large and midsized" public companies rose only ~15% (NYSE:XOM) (NYSE:CVX). Journalist Collin Eaton noted that frackers are not "answering the White House's call" for more production, a sentiment shared by Senator Bernie Sanders, and the UK's Labour Party, as evidence by their proposed windfall tax on oil and gas producers.    Finding little success navigating political pressures related to the energy transition, as climate conscious investors divested from the sector for much of the past decade, it appears energy producers (NYSEARCA:XLE) now have a new political mine field to

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WSJ reports frackers "Hold Back" production as profits roll in