WPX Energy
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The two shale producers are calling it a “merger of equals” and will share management duties once the transaction closes. The combined company aims to become the fourth-largest producer of tight oil in the US. -
The latest move to consolidate the US shale sector will add 1,500 drilling locations to the buyer's portfolio. It also reflects that all-stock or mostly-stock deals are now the sector’s preferred acquisition vehicle.
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The SPE Liquids-Rich Basin Conference in Midland, Texas, merged topics that have dominated recent industry discussions: technologies centered on big data, interwell communication, and Permian Basin production.
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WPX Energy COO Clay Gaspar discusses his company’s timely transformation into a Permian player and the challenges that lie ahead in the basin.
