Tulsa Energy Firms in “Consolidation” Speculation

Speculation is growing that two Tulsa energy companies could be among those targeted for buyouts in the Permian Basin of Texas and New Mexico.

The possibility that Laredo Petroleum and WPX Energy could be on the list comes after word last week of the $8 billion buyout of RSP Permian by Concho Resources.

As the Tulsa World reported over the weekend, the Concho move is seen by some experts and analysts as a sign of consolidation by energy explorers.

Executives at WPX say it as a compliment.

“That speaks to the quality of the portfolio WPX has,” said Kelly Swan, spokesman for WPX in an email to the World. “Our company is working in some of  the very best rock in the Permian’s Delaware Basin.”

He went on to state he believes the company has a “solid strategy for delivering value to shareholders on these assets.”

“We’re confident in our ability to executive and get the most out of our inventory. Last year alone we grew our volumes in the basin by 69 percent,” said Swan.


Other firms are in the discussion zone including Centennial Resource Development, Energen, Jagged Peak Energy, Laredo Petroleum, Matador Resources and Parsley Energy.

Who would buy them?  Diamondback Energy is reported to be one prospective buyer.