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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

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,...

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