15/02/17

Passing On The Permian: Has The Bubble Grown Too Big? [feedly]



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Passing On The Permian: Has The Bubble Grown Too Big?
// Zero Hedge

Submitted by Nick Cunningham via OilPrice.com,

Has the Permian Basin become too hot? More companies and enormous sums of capital continue to flood into West Texas to take advantage of the most prolific shale basin in North America. Rig counts are showing no sign of slowing down and new deals in the Permian are announced on what seems like a weekly basis. However, will the Permian bubble deflate?

ExxonMobil dumped more than $6 billion in January to double its holdings in the Permian, as the oil supermajor decided to ramp up shale drilling instead of taking on more complex megaprojects offshore. But in the past, ExxonMobil has made a play for shale ...

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