Upstream assets producing around 40,000 boe/d Associated gas ties in to North American interests Vitol, the world’s largest independent oil trader, has agreed to acquire producing acreage in the Permian’s Midland Basin from Hunt Oil as the trader looks to build a US shale position from existing mature assets. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The assets, acquired by Vitol’s Vencer Energy, cover 44,000 acres across five counties in the Midland Basin, with current production of about 40,000 boe/d, Vitol said in an April 30 statement. No financial details of the deal were given. The Permian, which spans West Texas and southeastern New Mexico, is a prolific shale play with several sub-territories, including the Midland Basin. While oil is the main lure for drillers, significant amounts of associated gas are being lifted with the crude. That gas is increasingly being moved southward […]