After years of disappointing investor returns, in 2021 shale companies rocketed to the top spot across all economic sectors. That momentum has continued into 2022, but strategic challenges are mounting for executives as they contemplate the medium and longer term. Can the shale business deliver sustained value to its shareholders and to society at large? How does it compete with tech companies, financials, and other sectors? How should companies balance volume growth versus shareholder returns? Would sustained higher prices impact current fiscal discipline? Would delivering both high prices and rapid growth satisfy investors? Will consolidation continue and will it lower investment overall? On what future vision should companies base their investments? How do the costs of measuring and reducing GHG emissions factor into investment plans? How should successful shale producers engage with "new" energy businesses?