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That year oil still averaged a relatively strong $78/bbl though, different from a move towards the lower end of its cyclical trading range that 2025 is witnessing. As a private operator, the company has more flexibility to pursue exploration ventures than a public E&P whose shareholders would likely react negatively to a similar move.
issued by the UK's Financial Conduct Authority ('DTR 4.3A') and in accordance with The Reports on Payments to Governments Regulations 2014 (as amended in 2015) (the 'UK Regulations') and our interpretation of the Industry Guidance on the UK Regulations issued by the International Association of Oil & Gas Producers.
Asset values have also declined when crude prices moved 20 percent or more lower year-over-year, with the value of Permian acreage falling about one-third in 2015 compared to 2014 and losing more than half its value in 2020 over 2019, based on the average price per acre paid.
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