Supermajors and independents alike scramble for acreage in the prolific Permian Basin as rigs counts increase and crude oil prices stabilize. During the oil and gas industry’s last two dismal years, the Permian Basin stood apart in an apparent “one basin recovery” in which money could be made at $30 per barrel oil. With price stability now in the low- to mid-$50s, the basin has become that much more attractive – luring capital spending, rigs and jobs. And perhaps, even a more widespread recovery. Indeed, analysts at Barclays say operators can breakeven on average in the play at $43 per barrel. In the upper and middle portions in Midland, Martin and Howard counties, the breakeven price may be as low as $35 per barrel. Double-digit growth is achievable at prices between $45 and $50 per barrel, Barclays said. During a sustained period of low prices, most M&A activity migrates […]