U.S. Shale Faces Another Year Of Contraction In 2021

1. DVN and EOG exposed to federal lands drilling ban- With Joe Biden leading in the polls, the odds of access to federal lands for U.S oil and gas producers getting curtailed now looks reasonably high. - Devon Energy (NYSE: DVN) and EOG Resources (NYSE: EOG) hold about half of their Permian acreage on federal land, making them the most exposed. ConocoPhillips (NYSE: COP) also has high federal land exposure, plus large holdings in Alaska, which is also facing heightened scrutiny. - The prospect of more limited access to federal lands has these stocks…