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Companies are seeking to bulk up and consolidate, particularly in the Permian basin, the largest and most productive oil field in the U.S., industry experts say.
Companies are looking to buy up rivals to secure drilling sites for the future not to boost their output immediately. They often cut back on drilling rigs.
A group of oil and gas “mini-majors” are emerging among U.S. shale producers, built from aggressive dealmaking that industry players expect will accelerate on strong commodity prices and the retreat of Europeans from U.S. onshore production. The players, including Devon Energy Corp, EQT Corp, Continental Resources, Pioneer Natural Resources and Diamondback Energy, are poised for .