You are here

Land rush in Permian where oil is stacked like a layered cake

ExxonMobil, Noble Energy ink acquisition deals worth billions of dollars in a basin straddling Texas, New Mexico
Thursday, January 19, 2017 - 05:50

The geological virtues of the Permian, along with an existing robust array of pipelines, have made the basin the cheapest to develop any shale oil field in the United States.


AMERICA'S domestic oil production remains in a deep two-year slump, but a rash of multibillion-dollar deals are flashing sparks of recovery in the shale fields of the Permian Basin straddling Texas and New Mexico.

ExxonMobil announced on Tuesday it was acquiring nearly 275,

Market voices on:

Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at

Powered by GET.comGetCom