Is A Supermajor On The Verge Of Vertical Integration In The Permian?

Supermajor capital has washed ashore to hunt short cycle returns in the Lower 48, having abandoned longer-cycle deepwater and international in the era of austerity following the 2014 oil price crash.

These large companies have historically been thought of as less nimble than their smaller peers – the Independents who have been synonymous with driving better economics throughout the shale revolution.

Last week, a supermajor SVP asked himself a hypothetical question that caught our attention and could signal a big change coming.

There’s a lot more to this story…

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