Why would Concho Resources Inc. pay $9.5 billion for RSP Permian Inc. last year? “Because we had a thicker pile of crappy rocks than the next guy,” joked Mike Grimm, immediate past chairman of RSP Permian and president of Rising Star Petroleum. Turns out, these 95,000 acres of crappy rocks were at the epicenter of the world’s most-desired onshore oil play.

Grimm spoke to an audience at NAPE’s Global Business Summit in February, and said he gets asked often about what made his little Permian start-up eight years prior such a consolidation sweetheart.

As Grimm tripped through memory lane offering his observations on the biggest deals of the past year, he lingered on the second largest, noting, “I’m a little familiar with that one.”

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