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A&D - Upstream M&A sees uptick as 2019 finish line approaches - December 2019
After Permian consolidation went silent following Parsley Energy’s $2.3 billion acquisition of Jagged Peak Energy in October, WPX Energy topped that Dec. 16 with a $2.5 billion deal to acquire EnCapbacked Felix Energy (PG.1). The deal further shifts WPX’s portfolio from the Bakken to the Permian, adding 58,500 net acres with 1,500 in the eastern Delaware basin with anticipated 2Q20 net production of 60,000 boe/d (70% oil). Another recent Permian deal made headlines in......
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