Frackers even less popular than when oil was at $10 - Bloomberg's Denning [Seeking Alpha]
BlackRock Energy and Resources Trust (BGR)
US:NYSE Investor Relations:
blackrock.com/investing/products/240226/blackrock-energy-and-resources-trust-fund
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Source: Seeking Alpha
Frackers even less popular than when oil was at $10 - Bloomberg's Denning - BlackRock Energy&Resources Trust (NYSE:BGR) | Seeking Alpha Energy Frackers even less popular than when oil was at $10 - Bloomberg's Denning May 29, 2019 1:11 PM ET | BlackRock Energy&Resources ... (BGR) Carl Surran The energy E&P sector's predilections for production and spending are to blame for their deep unpopularity with investors Frackers have shown a remarkable ability in recent years to do more with less, but "it is their very success in this regard - along with skewing rewards to management - that has made them unpopular," Denning writes. Energy stocks now account for a shade above 5% of the S&P 500, slightly less even than in early 1999, when oil prices had collapsed and the tech bubble was racing toward its peak. "The pace of drilling in the Permian Basin may have eased off somewhat, but with an estimated inventory of eight months' worth of uncompleted wells, fracking has not," Denning writes.
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