Family oil companies attract huge M&A attention

According to a Rystad Energy analysis, only six firms control about 62% of the remaining tight oil resource in the Permian Basin.

After more than a century of exploration and development, the Permian Basin is the gift that keeps on giving.

And as operators jockey for scale and runway in America’s biggest resource basin, they’re knocking on the doors of wildcatting families that have been in the Permian since the play’s beginning.

Today, family-owned oil and gas companies stand out among the most coveted M&A opportunities in the basin after a historical consolidation trend.

But oil was nary a thought on the mind of David Fasken when the Toronto attorney purchased a 220,000-acre ranch in West Texas in 1913.

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Source: HARTENERGY

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