[ad_1]
ConocoPhillips is on track to become the second largest oil and gas producer in the contiguous United States after its $ 9.5 billion purchase of Royal Dutch Shell PLC assets in the Permian Basin.
The company’s acquisition of 225,000 net acres in West Texas is a big bet that drilling in America’s busiest oil field will support yields for a decade. It’s also the latest example of how competition for consolidation is redefining the pecking order among America’s top shale drillers.
[ad_2]
Source link