US E&P spending continues recovery from recession

International spending on exploration and production is set to increase by 14% to $533 billion this year, as activity continues to pick up after the recession, a new spending survey conducted by investment bank Dahlman Rose & Co said on Wednesday.
By James Batty 24 June 2011 0 213

International spending on exploration and production is set to increase by 14% to $533 billion this year, as activity continues to pick up after the recession, a new spending survey conducted by investment bank Dahlman Rose & Co said on Wednesday.

The Original Oil Services and Drilling Monthly for June finds that North American exploration and production (E&P) spending is expected to move up substantially in the next six months, with the total yearly spend expected to come in at $122 billion, 22% higher than in 2010. Canadian...

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