U.S. PETROLEUM INDUSTRY ADJUSTS TO TOUGH ECONOMY

A.D. Koen Gulf Coast News Editor Oil and gas companies in the U.S. are curbing costs and redirecting spending to survive the worst decline of petroleum industry activity on record. Persistently weak U.S. natural gas prices and shaky oil prices worldwide have put pressure on domestic companies to become low cost producers. Efforts to cut exploration and development costs have depressed activity in the U.S., one of the world's most mature oil and gas provinces.

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