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for Conventional production

Can the Oil Industry Continue to Lower Decline Rates at Mature Fields?
Because of lower spending levels, oil companies have injected more resources into existing oil fields, rather than greenfield projects, particularly ones with long lead times.

Small Firms Bypass Shale for Older Conventional Oil Fields
Some producers are turning more toward conventional plays, in particular older oil fields that can be tapped with new technology and provide quicker paybacks and more predictable long-term returns.