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As oil recovers, US firms descend on Permian Basin, Texas

Thursday, February 2, 2017 - 05:50

Permian Basin producers make money at the current price of about US$53 per barrel because of its sprawling pipeline network, abundant labour and supplies, and warm winters that allow year-round work.

Odessa, Texas

IN most US shale oil regions, energy firms are making strategic but cautious bets as the price of oil holds above US$50 a barrel.

Here in the Permian Basin of West Texas, the largest US oil patch, the industry poured more than US$28 billion into land acquisitions last

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