"Shell writedown is bad news for US shale": FT.

FT: “Over the past few years, the oil majors have been punch drunk on US shale. Now comes the hangover.” Royal Dutch Shell surprised the market on Thursday with a $2.1bn impairment, mostly on its liquids-rich shale properties in North America.
The writedown showed that the results from Shell’s exploration drilling for oil in its US shale acreage have been much worse than it anticipated. “Shale oil bulls take note,” wrote Oswald Clint of Bernstein Research.”