2021 saw a big number of high-profile oil deals in the prolific Permian basin Independent oil companies are leading the charge The Delaware Basin is especially attracting attention from E&Ps The Permian shale play, the star of the shale patch, witnessed a hot merger and acquisition year in 2021 amid the pandemic as many companies sought to gain an edge over competitors by either increasing their presence in the play or in the case of Shell, leaving it altogether. Shell’s exit from the Permian cost ConocoPhillips $9.5 billion in cash, boosting its position in the Permian quite considerably at a time when the play continues to be a magnet for an industry no longer committed to production growth at all costs. Independents are perhaps even more active in dealmaking. Earthstone Energy, a Texas-based oil producer, last month paid some $600 million for assets in the Delaware Basin—one of the […]