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Oil and gas explorers are expected to pick up the pace in 2021 after being knocked off course last year amid the global coronavirus pandemic and oil price volatility that led to deep spending cuts and activity slowdowns.
Analysts at Westwood Global Energy Group anticipate seeing between about 70 and 100 high-impact exploration wells in 2021, though companies are still solidifying drilling plans. Such wells typically target more than 100 MMboe or frontier plays.
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