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Wave of deals puts US shale oil back in focus
American shale oil is back at the center of the global petroleum game, a driver of major deals involving petroleum giants more inclined to buy up rivals than to undertake wildcat exploration. On Monday, Diamondback Energy announced the $26 billion acquisition of Endeavor Energy, combining two of the top 10 producers in the Permian Basin, which has the largest unconventional petroleum reserves in the United States. The Permian, which is located in western Texas and eastern New Mexico, has emerged as an especially hot commodity. In October, ExxonMobil announced the acquisition of Pioneer Natural Resources, the biggest ... (full story)