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...One analyst who covers BP said there had been a very different tone from the company during a capital markets day last October, when the oil group took investors on a field trip to the Permian basin in Texas...
...Today, as a multibillion-dollar wave of consolidation washes over the Permian Basin — the engine room of America’s oil industry — that landscape has been transformed....
...The Midland-based company is acquiring a high-quality asset that will transform it into the third-largest producer in the Permian Basin of West Texas and New Mexico....
...The cash and stock transaction, announced on Monday, will transform Midland, Texas-based Diamondback into one of the biggest participants in the sprawling Permian Basin of Texas and New Mexico, the biggest...
...The stock and cash transaction will combine two significant players in the Bakken Shale of North Dakota and Montana, after a string of deals in the more prolific Permian Basin....
...It is buying CrownRock, a privately held shale driller in the Permian basin oil and gasfield for $12bn, including debt. Oxy is already one of biggest producers there....
...The deal will give the company a substantial position in the Permian basin, which straddles Texas and New Mexico....
...Basin, the engine room of the US oil industry....
...Basin....
...In the Midland sub-basin, which makes up the eastern part of the Permian (and is significantly more sought-after than the Delaware on the other side), ExxonMobil and Diamondback will control roughly 50 per...
...Basin with the broader Opec+ alliance of producer countries, which includes Russia....
...The unusual-looking animal famed for its elaborate mating dance roams the scrubland of the vast Permian Basin — the epicentre of US oil production — and was listed as endangered last year....
...CrownRock is one of the leading private operators in the sprawling Permian Basin of Texas and New Mexico, the US’s most prolific oilfield....
...Much of the production growth has focused on the sprawling Permian Basin, which stretches across Texas and New Mexico....
...But whereas other basins, such as the Permian, in Texas and New Mexico, have recovered in many ways from that downturn, the Bakken hasn't....
...In the past decade Pioneer helped revive the moribund Permian Basin of Texas into a critical source of global energy supply....
...Biden “said he was going to end the oil and gas industry — he is doing that”, said Stephen Robertson, executive vice-president of the Permian Basin Petroleum Association....
...Led by Tim Dunn, a prominent conservative donor, CrownRock is one of the leading private operators in the sprawling Permian Basin of Texas and New Mexico, America’s most prolific oilfield....
...ExxonMobil plans to boost oil and gas production by about 10 per cent to 4.2mn barrels a day by 2027, as the US oil supermajor ramps up investments in key operations in Guyana and the Permian Basin....
...A takeover of Pioneer, the biggest player in the Permian, would make Exxon the undisputed leader in the basin, accounting for about 15 per cent of total oil production....
...The US energy supermajor’s $59.5bn deal to acquire Pioneer Natural Resources will make it the dominant producer in the oil and gas-drenched Permian Basin of Texas and New Mexico....
...Pioneer is the pre-eminent operator in the Permian field and the deal brings 15 per cent of the basin’s output under Exxon’s control, according to RBC Capital Markets....
...In the Pioneer deal, Exxon will become the dominant operator in the Permian Basin, the largest oilfield in the US....
...The other is the Permian Basin — the vast oilfield that stretches across west Texas and New Mexico — where production increases have slowed....
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