Big Oil returns to onshore U.S. resources

07/18/2008 | Wall Street Journal, The

Decreased production, increased political challenges abroad and dwindling reserves have caused large oil companies to begin leaving huge foreign oilfields and offshore drilling centers to focus their attention on unconventional drilling spots, such as coal beds and shale formations, on U.S. soil. BP is the latest company to jump on the bandwagon, paying $1.75 billion for natural gas assets in Oklahoma.

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