Annual Average & Year to Date Cost Results:

On a year over year basis, downside pressures abated as the market for drilling, services and equipment reached a tentative supply/demand balance. As a result, the cost series that we track stabilized at levels at or slightly below 2009. Revised data for November 2010 reduced the prior estimate of deflation in 2010 for drilling cost and increased the deflation estimate for oil and gas support activities slightly.

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