Among publicly-traded independents, survivors clearly grew and gained prominence. Privately-held independents, in contrast, registered a 15-percent decline in their U.S. oil & gas production.

Note: BOE=barrels of oil equivalent. Natural gas converted at 0.178 barrels per thousand cubic feet.

Source: Publicly-traded independents: Company filings of Securities and Exchange Commission Form 10-K.

Privately-held independents: U.S. total oil and gas production (adjusted for royalty interests) less majors

and publicly-traded independents.

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