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Survey: Modest Uptick For U.S. E&P Spending In Store After 2013 Declines

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By Darren Barbee, Hart Energy
January 9, 2014

U.S. E&P spending will grow by a modest 5.3% in 2014, a mild bounce back from 2013 when spending declined by about 3.2%, said analyst James Crandell in his “The Original E&P Spending Survey.”

“This gain understates the increase we are likely to see in wells drilled in 2014 due to the ongoing increases in rig efficiency,” said Crandell, managing director of Cowen and Co. (NasdaqGS: COWN).

Globally, the 466 companies surveyed estimated an increase of 4% in their global E&P capital expenditures in 2014 compared with an increase of ...

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