The Permian Implosion… The Economist – Commodity Research Group

October 7, 2020 by Jim Colburn Leave a Comment

Here is a chart from The Economist showing the sharp decline in active rigs in the Permian… The Economist notes:

”Yet besides Chevron’s $5bn bid for Noble Energy in July, deals have been sparse. Buyers fret that investors will punish them for overpaying. Targets fear selling amid sinking oil prices. Many bosses’ yearly pay exceeds rewards from a sale, notes Devin McDermott of Morgan Stanley, a bank. So all eyes are on Devon Energy’s $2.6bn offer to buy wpx Energy, a smaller rival, announced this week. ”

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

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