drill pipe on a Chesapeake Energy Corp. natural gas drill site in Bradford County, Pennsylvania, U.S., on Tuesday, April 6, 2010©Bloomberg US production of liquid petroleum is surpassing its previous peak, reached in 1970, in the latest landmark for the country’s shale oil boom. Four decades of decline in US oil output have been reversed in just five years of growth. Petroleum production, including crude oil and related liquids, known as condensate, and natural gas liquids (NGLs) such as ethane, was 11…
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