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Three factors driving US liquids production to new heights
The US set a new global liquids production record last year, surpassing 13 million b/d of crude and condensate. And there’s more to come – we forecast 14 million b/d by the end of 2026. The US industry is thriving, reflected in Big Oil’s moves to beef up its exposure. Just eight months into 2024, M&A deals in US upstream already exceed two-thirds of 2023’s record US$130 billion. With more big sellers weighing an exit by year-end, another new high could be on the cards. Business models retooled, US E&P has matured from niche, capital-hungry cyclicals into big, resilient cash machines. The Independents alone ... (full story)
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- Posted: Sep 5, 2024 1:41pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 90
