A megamerger between shale driller Pioneer Natural Resources and supermajor Exxon Mobil could reshape the Permian Basin. But Exxon would need to offer a hefty sum to attract a deal, analysts say.
With Ovintiv Inc. scooping up three EnCap-backed drillers in the core Midland Basin, public E&Ps have fewer places to look to add quality inventory runway, analysts say.
Ovintiv’s $4.275 billion bid to acquire three EnCap-backed E&Ps in the northern Midland Basin adds much-needed inventory and addresses key investor concerns, analysts say.