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Funding increased by 36 percent for the first half of the year, while shareholder book value increased at a 16 percent annualized rate in the first six months of 2017.
It is unfortunate that while our government is handing out hundreds of billions of dollars to bail out other industries, that a bit more attention was not given to accelerate the new regulations - as a result, the E&P industry will face massive ceiling test write-downs and other impairments this year-end and billions of dollars of shareholder book value will be forever lost.'
Shareholder book value increased by 48% during 2016.