Loosening the purse strings in the Permian

The Permian and pipelines are hotspots as transactions picks up

The oil industry's animal spirits are rousing again as the shock of the worst downturn in a generation fades. For proof, look to the Permian shale where deal making is surging as companies look to carve out their slice of the hottest oilfield on the planet. So far this year around 100 deals worth more than $14bn have been done in the Permian, far more than in any other region. More are likely. The biggest came in early September when EOG Resources spent $2.5bn to buy Yates Petroleum, which drilled its first Permian well in 1924 and had a highly sought after portfolio of prospects. EOG was especially keen on Yates's 186,000 acres in the emerging Delaware section of the West Texas play, which