Zachary Toliver | Shale Plays Media
More money, mergers and acquisitions are happening in the Permian Basin this week. Penn energy reports:
American Energy – Permian Basin, LLC (AEPB) announced it has invested $2.5 billion to acquire about 63,000 acres of leasehold located in the southern region of the Permian Basin. The land is predominantly located in the Reagan, Irion and Crockett Counties in Texas. The acquisition also includes assets from Enduring Resources II, LLC.
As 2014 rolls right along, many companies are taking notice to the promising shale plays of West Texas and New Mexico. Most notably, Pioneer Resources has recently closed a deal with the city of Odessa for water use and has sold off their Barnett Shale assets to put more focus on their production in the Permian Basin.
Overall, the energy industry is responsible for some of the biggest money transfers in Texas for the first half of 2014. The energy industry accounted for 7 of the state’s 10 largest mergers and acquisitions. Of the 27 Texas deals valued at over $1 billion, 12 involved energy companies.
Read up on the full deal from American Energy here: “AEPB closes $2.5B Permian Basin acquisition”