Shale Oil & Other People's Money




In honor of Whiting Petroleum, one of the original Big Four in the Williston Basin hitting $2.54 today, down from a high of $370 in 2014, we offer up this image of how carefully they used other people's money to grow their shale oil "manufacturing machine." Chesapeake, the poster child for shale gas development, similiarly is as good as in the toilet, flushed. Another really big one will come up in a bad way before the end of the year, watch.