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EIA: Finding, lifting costs worldwide declined in 2009

03/14/2011
Oil and natural gas finding and lifting costs declined in 2009 for a group of US-based producers, according to a recent report from the US Energy Information Administration.EIA's report, Performance Profiles of Major Energy Producers 2009, covers 30 oil and gas producers and refiners and finds that the companies' collective net income declined to the lowest level since 2002. Also, the report finds that capital expenditures in 2009 fell sharply, but upstream capital outlays remained at historically high levels in spite of the decline.Average worldwide finding costs for the sample of companies decreased by $5.79/boe to $18.31/boe of reserves added in 2007-09 compared with the 2006-08 period...
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