U.S. Shale Cautious As Oil Majors Invade Texas

Shale drillers are starting to show some caution when it comes to their pace of drilling, but some of the oil majors are still increasing their efforts in the shale patch. Chevron announced a 2018 capital spending program on Wednesday, which detailed spending cuts for the fifth consecutive year. One of the big reasons why Chevron slashed spending yet again is because of the completion of some massive, high-profile LNG export projects in Australia. But the oil major is also trying to chart a careful course amid uncertainty about oil prices. But…
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