A Little Oil and Sass for Tuesday
Following the Memorial Day holiday, Reese Energy Consulting today is looking at potential contenders for the next round of E&P takeovers in the Permian. You have to admit, the Oxy-Anadarko drama earlier this month lit a fire in the belly of independents. Who doesn’t love a good underdog story? But while the independents continue to focus on increased production and improved economics in the Permian, the oil and gas Goliaths continue to size up more Permian Davids for potential acquisition. The obvious targets right now include those larger independents holding the most top-tier acreage and stellar production. With Texas-size results quarter after quarter, year over year, these cowboys are forces of nature in the Permian, and they’ve set the rumor mill abuzz as to which could fall next in the crosshairs of an energy major. But let’s not forget those smaller producers out there kickin’ it in the Permian. Could Houston-based Lilis Energy possibly cross the radar of a hungry BP, Exxon, Shell or Chevron with its 1,200 drilling locations across 20,000+ contiguous acres in the Delaware?