Pump jacks are seen near vast Monterey shale formation in the Midway Sunset oilfield, California, U.S., April 29, 2013. REUTERS/Lucy Nicholson
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U.S. oil production has topped 10 million barrels per day, approaching a record set in 1970, but many investors in the companies driving the shale oil revolution are still waiting for their payday.For now, share prices of shale producers have yet to fully recover from the 2014 oil price collapse, when many investors took losses as hundreds of firms went bankrupt and those that survived struggled.Six of the firms have never offered a dividend or have not restored cuts implemented since the 2014 oil price collapse.Anadarko Petroleum Corp. earlier this month added $500 million to an existing buyback program and raised its dividend by 20 percent, sending its shares up 4.5 percent the next trading day. Of the six, shares in four – Cimarex Energy Co., Devon Energy Corp., Parsley Energy Inc. and Noble Energy Inc. – have lost at least 19 percent in the last 12 months.Since then, prices have cooled to about $63 a barrel, but remain 17 percent above a year ago, boosting cash flow for firms that have expanded output.
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