So, it turns out The Wall Street Journal doesn’t have a section in their fine publication devoted to coated components. But here’s the thing – what we do, what you do, it’s a BIG deal. So we’re not going to quit our day jobs, but we monitor what’s going on and post it here on our site. Make sure to bookmark this page, visit often and tell your friends. This is your hub for news and updates for the industry.
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While some doubt the longevity of the shale boom because of rising debt levels that could stifle returns, there are other factors in place that prove it may not be so easy to slow down shale. In this WSJ piece, Liam Denning investigates the numbers and statistics behind the financing of the shale boom and outlines why the Fed is unlikely to derail it. Shales Big Spenders Neednt Fight The Fed By: Liam Denning The oil patch has run up the mother of all tabs. So will rising interest rates choke off the shale boom? Between 2006 and 2012, U.S. exploration and production companies clocked almost $1 trillion in capital expenditure, far above operating cash flow of $670 billion, according to Raymond James. Companies have proven adept at filling that funding gap, not least by raising debt. The EP sector in 2007 was carrying $28.84 of net debt per barrel of oil equivalent produced, according to data from IHS, IHS +1.37% roughly equal to operating cash flow. By last year, net debt per barrel