As public E&Ps promise capital discipline and slow or no growth through 2021, an unexpected and potentially price-busting trend is developing behind the scenes. Could private oil and gas producers ruin it for everyone?
E&P executives find themselves under fire for pocketing large bonus payouts in recent years while shareholder equity values tanked, but blame it on a broken incentive model. Now, the rules are being rewritten for how executives are rewarded.
A new majority owner and a new CEO energize pure-play Eagle Ford Shale operator Penn Virginia to catch its stride.