EFTA Document EFTA01357779

13 January 2015 HY Corporate Credit Energy efficiency, and (v) decreasing non-productive capital spending (test wells, seismic, infrastructure, etc). As we consider 2016, our equity counterparts have looked at the issue of US growth and asked the question: 'What would we need to see from the industry to normalize production growth from 2016 forward at a level more consistent with demand expectations? (i.e. reduce US YoY supply growth to 500-600 Mb/d)." They estimate "that at minimum, th