Tortoise Senior Portfolio Manager Brian Kessens in S&P Global Market Intelligence

Shale gas stocks soared in final quarter of 2021 as prices peaked above $6/MMBtu

Pure-play shale gas producers delivered the results that investors were looking for in the fourth quarter of 2021: modest spending increases, flat production growth and shareholder returns.

“Producers continued to tout ‘maintenance mode’ on production and a strong commitment to capital discipline with a formulaic capital allocation approach focused on returning free cash flow to shareholders,” TortoiseEcofin’s managing director and senior portfolio manager Brian Kessens said.

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