November 2018

Features

Permian Basin — Where Midstream Infrastructure Needs Take on Outsized Importance

By Richard Nemec, Contributing Editor The ever-stronger attractiveness of the Permian Basin as the global hot spot for new oil and natural gas development could not have been any clearer than in August 2018, when an independent pure-play exploration and production (E&P) company based in Midland, Texas, swallowed up a Birmingham, Ala.-based firm with a West Texas focus in an all-stock deal valued at $9.2 billion. Easy come, easy go in West Texas.  Diamondback Energy Inc. paid its multibillion-dollar price in an all-stock deal for Energen Corp., just two months after strengthening its Permian position with a $1.2 billion purchase of Midland sub-basin acreage from Ajax Resources LLC.

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