Malaysia’s Petronas, the national state oil and gas company, is in talks to take over Permian driller DoublePoint Energy, Bloomberg reported, citing sources in the know who declined to be named because the talks are private. Still at an early stage, if these talks end in a deal, it could fetch several billion dollars, the sources also said. DoublePoint Energy has 95,000 net acres in the Permian and produces some 40,000 bpd of crude as of April. This could make it an attractive target for Petronas, but based on what we have seen in the M&A space, the target will only be acquired if the price is right. If a deal does take place, however, it would go a long way to rekindle optimism that, despite the unprecedented crisis that struck the industry this year, dealmaking is beginning to recover. Such an injection of optimism came after Chevron decided […]