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US faces daunting post-boom hangover

THE HANGOVER caused by the worst oil bust since the 1980s, with more than 60 companies in bankruptcy, is affecting the budgets of oil and gas producing states that have been left with the spectre of thousands of newly abandoned drilling sites, quit by small to medium oil and gas companies who don't have the budgets to safely plug the wells.

Haydn Black
US faces daunting post-boom hangover

Texas is facing a bill of roughly $US165 million ($220 million) for plugging nearly 10,000 abandoned wells, a bill twice the annual budget of its regulator, the Texas Railroad Commission. The Lone Star...

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