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Permian consolidation a natural next step: Chevron
Chevron says consolidation in the Permian basin will help boost financial returns rather than raise production rates, writes Jon Mainwairing Consolidation of operators in the US Permian basin shale is a "natural next step", but it is unlikely to affect production growth rates to the same extent as the industry's current focus on returns, Chevron's head of crude supply and trading, Patti Leigh, told this week's ArgusEuropean Crude Conferencein London. Leigh noted that the production growth rate in the Permian basin has dropped to around 10pc/yr from about 20pc/yr in previous years. A key reason for the slowdown ... (full story)