Permian Basin A Hot Spot For Deals Despite Low Oil Prices

By Keith Goldberg (October 28, 2016, 5:19 PM EDT) -- A recent flurry of big-ticket upstream oil and gas deals concentrated in the Permian Basin of West Texas demonstrates the region's ability to be a moneymaker for drillers and a low-risk investment target for their financiers even with oil prices remaining stubbornly low, experts say.

This month alone, oil company RSP Permian Inc. ponied up $2.4 billion in cash and stock for private equity-backed Silver Hill Energy Partners LLC and Silver Hill E&P II LLC, gaining access to 41,000 net acres in the Delaware Basin, in the western portion of the Permian. Meanwhile, SM Energy Co. agreed to shell out $1.6...

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