Aggregating the reports of 23 global oil- and natural gas-producing companies, upstream capital expenditure totaled $77 billion in the fourth quarter of 2014, which was $10 billion, or 12%, less than in fourth-quarter 2013.
Three of the four quarters in 2014 had year-over-year declines in spending, bringing full-year 2014 upstream capital expenditure to $297 billion, 6% less than full-year 2013 spending for these companies.
http://www.eia.gov/todayinenergy/detail.cfm?id=20512
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