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Only one in five global shale basins may succeed, Wood Mackenzie says

Screen Shot 2014-01-30 at 00.47.49Extract from an article by James Paton published 8 April 2014 by WorldOil.com

PERTH, Australia (Bloomberg) — Only one in five global shale regions may succeed in producing significant amounts of oil and gas as countries from China to Argentina seek to emulate the U.S. boom, said energy consultants Wood Mackenzie. Oil companies from Shell to BP have cut spending to help bolster finances as costs outpace energy prices.

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