Need for flex continues to drive Permian M&A [Gas in Transition]
Need for flex continues to drive Permian M&A [Gas in Transition]
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Natural Gas News
Need for flex continues to drive Permian M&A [Gas in Transition]
Summary
Big oil understand the value of the Permian's extreme flexibility, and this helps explain the latest M&A wave. by: Thierry Bros
As explained back in 2020, the on-going M&A in the US Permian is linked to the desperate need for major companies to get hold of flexibility in an energy transition world, where the forecasts are more and more difficult to establish. The Permian has again proven to be extremely flexible; in 2023, yearly hydrocarbon production grew by another 11%. Concentration therefore continues to be the focus here with big oil understanding the value of the Permian. The company ranking changed slightly with Diamondback taking over Devon, Coterra taking over APA and Permian Resources taking over Ovintiv. Permian hydrocarbon production Source: US DoE, thierrybros.com Wit...
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