关注一下美国的页岩气公司。能源公司是美国高息债的主要发行人之一。这些年极低的天然气价格让杠杆过高的能源公司不堪重负。

过去几年，页岩气公司一共融资1760亿美元，但总体亏损2000亿美元。投资者在投资时，并不担心公司是否挣钱，而是你有多少口油井？

Mr. Sheffield has since embarked on an extreme belt-tightening regimen at the Irving, Texas-based producer. Pioneer is cutting more than one-quarter of its workforce, including a cadre of senior executives, in part through layoffs and buyouts. Among those who are leaving is Mr. Sheffield’s own brother, Thomas Sheffield, the company’s vice president of health, safety and environment.

Shale wells produce a lot of oil and gas early on, but taper off quickly, meaning drillers must continuously plow money back into the ground to maintain output. The Journal previously reported that thousands of wells drilled in the last five years??