They say patience is a virtue, but it’s been a testing time to watch E&P metrics inch ever so slowly higher as the third quarter concluded.

Typically, the E&P sector has lagged the underlying commodity, and certainly that’s been the rule of late. The West Texas Intermediate (WTI) crude price was up about 48% in the 12-month period through Oct. 1 of this year. Meanwhile, the XOP (S&P Oil & Gas Exploration & Production ETF), for example, was up only about 27.5% during the same period.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access