Permian Basin

Permian Basin market has stalled, leading to faltering oil & gas acquisitions

Permian Basin mergers and acquisitions have experienced a drop in deals in the second quarter of the year — despite a hopping market in general across the country — according to a report out Tuesday by Austin-based industry data provider Drillinginfo.

Drillinginfo findings show only $8.7 billion in U.S. activity during the quarter, versus a quarterly average of $17.8 billion since 2009. By comparison, the industry’s global deal value in the quarter was $165 billion, which is up 58 percent over the previous quarter and 122 percent over the same period last year.

Contributing to the stall in the U.S. are pipeline bottlenecks in the once white-hot market for oil and gas assets in the Permian Basin of West Texas and New Mexico, the firm said. Deals in that area reached just $801 million in the second quarter, the lowest level since the $437 million hit in the second quarter of 2015.

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Permian Basin

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