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Pioneer’s Latest Acquisition to Help Alleviate Concerns of Another Shale Drilling Binge
The acquisition of privately held oil and gas companies by mature operators, like Pioneer Natural Resources’ recent multibillion-dollar agreement to acquire DoublePoint Energy, should help alleviate concerns that U.S. shale could again oversupply the market and crash prices, says analyst.
Exxon Mobil, Chevron Take Cautious Approach to US Shale Recovery
The share of drilling activity by Exxon Mobil and Chevron in the Permian Basin oil field in Texas and New Mexico dropped to less than 5% this month from 28% last spring, according to data.
Houston-based Diamond Offshore Drilling Files for Bankruptcy
Diamond Offshore Drilling recently skipped making an interest payment and retained advisers to help it evaluate various alternatives “with respect to its capital structure,” according to an SEC filing on April 16.