Shale starts giving (a little bit) back

Producers are funneling more cash into share buybacks and dividends after months of pressure from shareholders to boost returns

Oil at $60 is making life a lot easier for US shale executives. For months, a debate has swirled around the industry pitting capital discipline, really the ability to deliver better returns to shareholders, against production growth. The uptick in the oil price has allowed executives to offer both to shareholders in the latest round of earnings calls this week. Shale producers have rolled out a raft of new shareholder-friendly measures this week, including billions of dollars in new or accelerated buyback programmes and dividends, while also keeping their foot to the floor on production growth. Diamondback Energy, a premier Permian producer, rolled out a $0.50 per share dividend after announ