Home Business Shale Drillers Warn of Higher Costs as They Report Record Profits

Shale Drillers Warn of Higher Costs as They Report Record Profits

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Shale companies are reporting banner profits but are warning that inflation in the oil patch is leading them to increase their spending.

Oil prices hovering around $110 a barrel in the second quarter lifted the earnings of some of the largest shale companies. Pioneer Natural Resources Co. , Continental Resources Inc., Diamondback Energy Inc., Coterra Energy Inc. and Matador Resources Co. all reported historically high profits in recent days, according to FactSet.

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