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More Drilling in CA Likely: Good for KEG, OXY, PXP.

|Includes: BAS, Key Energy Services, Inc. (KEG), OXY, PXP, VQ

California fired the regulators most responsible for limiting number of drilling permits - only 10% OK'd YTD.  KEG has 15% of fleet in CA and their business has been slow there. This should provide lift. Monterrey Shale estimated to have 15 billion barrels of oil. I added to KEG. Positive for OXY and PXP also.