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US Upstream week in brief: Onshore exploration uptick and divergent budget strategies

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Report summary

The Austin Chalk heats up as Conoco reveals a newly-acquired position in central Louisiana. Other Lower 48 exploration includes Cabot testing sub-Utica potential in northern Ohio. SM Energy once again unloads its non-core assets, this time with divestitures in both North Dakota and the Permian. Alta Mesa plans a significant bump up in its STACK capital spend for the coming year. We also take a look back on the Concho-RSP deal, one week after the announcement.

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