Buy now
Transactions defied low oil prices, as investors bet on long-term economics
The pull of the Permian unleashed the big money in a burst of M&A action in 2017. Just three deals in the first quarter alone—ExxonMobil's acquisition of Bass Brothers' properties in the Delaware Basin for $5.6bn, Noble Energy's $3.2bn buy-out of Clayton Williams and Parsley Energy's $2.8bn grab of Double Eagle Energy's acreage, all in the Permian—accounted for the lion's share of asset-buying as the industry raced for promising acreage. During those three hectic months, M&A in the Permian accounted for $17bn by value, a record. "Buyers were clearly scrambling to get their hands on what they could in the best tight oil play in the world before all opportunities got taken up," wrote M
Also in this section
25 March 2025
Cote d’Ivoire’s ambitions to become a major regional producer have gained renewed momentum, with established players and new entrants striking upstream deals and committing to long-term investment
24 March 2025
Indian E&P company wants to take domestic production to a new horizon, given the amount of unexplored opportunities
21 March 2025
Two recent developments raise the prospect of a revival in northern Iraqi oil and gas fortunes, but familiar obstacles could thwart momentum
20 March 2025
As cash-strapped Western governments commit to substantially raising defence expenditure, a similar dynamic is playing out in Saudi Arabia’s oil and gas sector, as Saudi Aramco maintains it heavy capex push despite reduced revenues
