Oil prices are up, gas prices are up—and so are the pay packets for shale’s top earning executives.

A new report from Alvarez and Marsal, a consultancy, finds that wages for executives at U.S. oil firms are largely back to pre-pandemic levels. Some executives, though far from all, were forced to take a pay cut as the sector’s finances crumbled during last year’s crash.

“As the economy continued to recover and the price of oil and other commodities increased, many [exploration and production] companies have announced a return to pre-pandemic levels of compensation,” says the report, which analyzed pay at 64 of the largest exploration and production firms.

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