US shale giant quits fracking as OPEC policy bites

Posted by Arabian Business: Ed Attwood on February 25th, 2016
Arabian Business: One of America’s largest fracking companies, North Dakota’s Whiting Petroleum Corp, has said it will suspend all fracking in the latest sign that OPEC’s policy not to cut oil production is paying dividends. Whiting said that it would spend 80 percent less this year, in what is the largest cutback to date by a major US shale company, Reuters reported. The firm will cease fracking and completing wells as of April 1, while most of its $500 million budget will be spent on mothballing its drilling......

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