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Permian oil explorers expand activity as drilling costs decline

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Oil explorers deployed more rigs for the first time in four weeks as shrinking drilling costs outweighed concern about sliding crude prices. Working American oil rigs rose by three this week to 800, according to data released Friday by oilfield-services provider Baker Hughes. The Permian Basin and Eagle Ford shale -- two of the nation’s busiest shale fields -- both saw an increase in drilling.
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