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Shale drillers are going for long - not deep - wells in the oil patch

Thursday, October 20, 2016 - 05:50

New York

LONG is the new deep. Just ask SM Energy Co, which on Tuesday spent US$1.6 billion to expand its acreage in America's most prodigious oil patch, the Permian Basin.

The unique geologic makeup of the Permian, consisting of multiple layers of oil- and gas-trapping shale that