Michael Blankenship, Co-Chair of Locke Lord’s Capital Markets Section and a Partner in the Firm’s Houston office, was quoted in an article examining a potential consolidation wave in the oil-rich Permian Basin after Chevron Corp.’s announcement of a $33 billion acquisition of Anadarko Petroleum Corp. Blankenship noted, “You're going to see more consolidation, certainly by the end of the year. When we talk to investment banks, they're saying similar things, because you have sweet spots here for the majors to come in and really get to drilling.”
Blankenship also addressed future acquisition targets in the Permian Basin for oil majors: “I would be on the lookout for any of the ones that are neighbors to Exxon or Shell to be targets, given the horizontal nature of the drilling. I would look for any of the public and private companies in the region next to them to be targets.”
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