Re: Oil-Will Shale Ruin The Party Again?

Capital reallocation risk is the reason why I express my long-term bet through PE.

At the risk of saying “this time is different”, I’m going to say that this time is indeed a bit different from the past from a number of angles.

First, US public E&P’s are much more focused on capital discipline and shareholder return than years before. I’ve said often that one of the biggest risks in investing in the public E&P space is capital realloc…