Permian Basin deals in 2023 totaled more than $100 billion


Some of those acquisitions by Oklahoma energy companies involving the Permian Basin helped push mergers and purchases in the Basin to more than $100 billion this year.

It’s according to consultancy Wood Mackenzie, which released a report that totaled the value of all the acquisitions. The list included this week’s proposed $60 billion acquisition of Pioneer Natural Resoures by Exxon Mobil as well as Chevron’s $53 billion agreement for Hess.

Throw in a few more such as Ovintiv’s $4.3 billion acquisitions and the $4.5 billion bid by Permian Resources for Earthstone Energy and you have $100 billion in basin-wide deals. Just last month, Tulsa’s Vital Energy wrapped up more than $1.1 billion in three acquisitions in the Basin.

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