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

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Published Wed, Feb 1, 2017 · 09:50 PM

    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 year - more than triple what they spent in 2015.

    oil

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