Interest in the Permian Basin heats up as operators look for new tight oil upside in the Lower 48. Permian Basin merger and acquisition (M&A) deals now make up 25 percent of total M&A oil and gas activity worldwide this year due to the surge of operators seeking acreage in the play. Interest in Permian Basin tight oil is causing a “Permian Panic” among operators not already in the Permian who believe they need to get in now before the next upswing, said Skip York, vice president of integrated energy with Wood Mackenzie, during a media briefing Thursday in Houston. Permian M&A activity has been focused on small, bolt-on acquisitions as operators already in the Permian seek to expand their footprint there, York told reporters. But as the upstream oil and gas industry becomes aware of the Permian’s potential, M&A activity is now being done by companies seeking to […]