Jagged Peak Energy Inc. is considering expanding its footprint in the Permian Basin, according to a report by Bloomberg. The Bloomberg report cites “people with knowledge of the matter” as its sources.

According to the report, Denver-based Jagged Peak, which has a market value of $2.2 billion, is working with an adviser to pursue bolt-on acquisitions. Bloomberg said its sources asked not to be identified because they weren’t authorized to speak publicly. Jagged Peak has several potential targets in mind, Bloomberg reported.

A spokesman for Jagged Peak declined to comment, when contacted by Bloomberg.

Jagged Peak CEO James Kleckner is on record as saying it is seeking partners for its Big Tex acreage in Pecos Country, Texas. Kleckner said on a call last month that the company hopes to have “clarity on that arrangement ahead of year-end.”