What Permeates 3 Big Oil Deals? Permian

If there was ever a week to highlight the opportunity in U.S. shale oil, last week might have been the biggest. With three major deals from Exxon Mobil (XOM) , Noble Energy (NBL) and Anadarko (APC) , we have the continuing theme of majors and mini-majors focusing their production throughout this down cycle in oil prices and preparing for the longer-term rally. And with all three of these deals, one play comes to the forefront: the Permian. 

First, Exxon's major move of buying up the privately owned Bass family acreage for $6.6 billion. This buy completes the Rex Tillerson era for Exxon as he moves on to the secretary of state role for President-elect Donald Trump. And while Exxon has been slowly acquiring Permian acreage in West Texas for the past few years, this deal represents an enormous potential for the largest U.S. oil company in the hottest U.S. shale play, with an estimated 60 billion barrels of oil in reserves from the 275,000 acres. ...537 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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