$CDEV This important piece of info was posted on my Charles Schwab news page for LPI. News seems worse than analyst expected. The story was too large to post in one shot, so this is part-1. Part 2 to0 follow Shale producers see deep freeze hitting thousands of barrels of output. Feb 22 (Reuters) Occidental Petroleum, Diamondback Energy & a host of smaller Permian focused U.S. shale producers said on Monday their first-quarter oil output will be hit by a recent winter storm that knocked out power to millions in Texas. While natural gas producers have benefited from cold weather forcing closure of wells, shale oil drillers stand on the losing side of the trade as frozen pipes & power interruptions are expected to slow an output recovery. Shale oil producers in the southern U.S could take at least 2 weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down & some of that production may never return, analysts said.
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