There is good news for XOP and that includes estimates that some U.S. shale producers can remain profitable with oil at current prices, perhaps even down to $35 per barrel.

“U.S. production reached a peak of 9.6 million barrels a day in April 2015, six months after OPEC moved to a market-based strategy that sent prices skidding. U.S. oil output was lifted by the industry’s recently completed projects, and production was also supported by hedging, ready financing and technology gains. But financing is no longer easy, and some producers face real hardship, including fire sales or bankruptcy,” according to CNBC.

Other ETFs with exploration and production exposure include the PowerShares Dynamic Energy Exploration & Production Portfolio (NYSEArca: PXE) and the Guggenheim S&P Equal Weight Energy ETF (NYSEArca: RYE).

Want more Oil ETF news and analysis? Visit www.etftrends.com/oil

SPDR S&P Oil & Gas Exploration & Production ETF