`Unexciting Might Be Good'

Few surprises in the oil patch. but with profits so healthy, who cares?

The oil patch has made its peace with low prices. Relentless restructuring and cost-cutting are delivering strong cash flow and higher profits despite anemic pricing. Even in today's oil market, initial public offerings and secondary stock sales are letting small independents fund new production and property acquisitions without incurring debt.

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