Texas shale durable, report finds

April 8, 2015 12:47 PM

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Texas shale durable, report finds

Shale bubble could burst, however, if crude oil prices drift much lower.

A report from Bentek, the forecasting unit of energy news agency Platts, finds oil production in the Permian basin in Texas has increased 50 percent in the last three years. For natural gas, production is up 30 percent during the same period.

Also read: Economy: Jobless claims drop to lowest since 1973; housing starts jump 11%

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