UK fund hones in on shale

THE oil price crash has driven UK specialist fund investor New City Energy to intensify its focus on dividend-paying, cash-generative companies with strong balance sheets and growth potential within the shale oil and gas sub-sector – possibly a sign of things to come for the wider industry.

Doing so will allow the £53.6 million market cap player to weather low oil prices and capitalise on a potential recovery hinted at by trends in capex and drilling rates, with a 10.

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