Shale Output Unchecked by Cuts as Top Fields Become Focus
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Shale drillers are planning on production growth with fewer rigs despite a worldwide glut that has sent crude prices to a four-year low.
Companies including Devon Energy Corp., Continental Resources Inc. and EOG Resources Inc. said they expect to pump more from their prime properties while cutting back in their least productive prospects. That puts the onus on OPEC nations, led by Saudi Arabia, to cut output if they want to stem the slide in global oil prices.