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With oil prices low, early signs of a pullback in drilling activity

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With oil prices low and showing no sign of an immediate rebound, the industry is beginning to pull back on spending. Oil prices have dropped around 30 percent since summer highs, raising fears among producers across the globe. Yet, many oil majors are relatively diversified, with large holdings downstream.

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IHS Markit: conventional oil & gas discoveries at lowest levels in 70 years; major rebound unlikely

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The low levels in discoveries come as a result of a pullback during the past 10 years in the wildcat drilling that targets conventional oil and gas plays—most drastically after oil prices collapsed in 2014. IHS Markit sees other confounding issues that could continue to suppress the discovery of conventional resources.

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US Shale Is Now Cash Flow Neutral

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Oil prices are probably already high enough to spark a rebound in shale production. Even when US oil production hit a peak at 9.7 By the third quarter, oil prices had climbed back to above $40 and traded at around $50 per barrel for some time, replenishing some lost revenue. by Nick Cunningham of Oilprice.com.

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Why Wall Street is throwing billions at the Permian

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The collapse of oil prices has ground shale drilling to a halt, but the one region where drilling is still active, and even increasing, is in West Texas. Also, Concho Resources announced its decision to pay $1.6 8 article , QEP Resources paid $60,000 an acre to an undisclosed owner in June. As Bloomberg noted in an Aug.

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NTU Singapore to develop technologies to extract hydrogen from liquid organic hydrogen carriers

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This collaboration comes at a timely moment, on the back of rising oil prices. As a nation with no natural resources, it is all the more important for Singapore to have an alternative source of energy that is reliable and economical.

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BP approves revamped $9B Mad Dog Phase 2 project in the deepwater Gulf of Mexico; down from original $20B cost

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BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Today, the leaner $9-billion project, which also includes capacity for water injection, is projected to be profitable at or below current oil prices. Earlier post.).

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ADB approves $240M to help Kazakhstan modernize transport, improve connectivity

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Kazakhstan, rich in natural resources such as oil, gas, and metal, has huge potential for economic development but infrastructure constraints result in significant travel time and cost, and hinder access to foreign markets.