Although Permian basin is good but It's not wise to buy more...

Although Permian basin is good but It's not wise to buy more assets rather than to pump out all of existing wells.

Congress has agreed to lift US oil ban to reduce strategic reserves. This will send a clear message to OPEC that they will never kill US Shale industry amid there will be another suppy gluts. I'll top up next week before the Fed's rate decision.

With a new tax break announced, this could drive more investments in the US

MONEYBEAT
Try the Permian Basin for an Oil Play –Energy Journal

By Christopher Harder




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PERMIAN PRODUCERS ARE AMONG TOP ENERGY STOCKS

Among 80 exploration-and-production companies listed in the U.S., the shares of only 11 have gained in the past year as crude oil prices have tumbled. Of those, eight do all or most of their drilling in the Permian Basin, which is offers a rare glimmer of hope for the energy industry, Ryan Dezember and Corrie Driebusch report.

The regional spread across western Texas and southeast New Mexico has allowed producers there to sell new shares and use the proceeds to pay down debt and make acquisitions. The resulting healthier balance sheets and growth prospects have attracted more investors. The Permian Basin is “the best house on a bad street,” said Pearce Hammond, managing director of investment bank Simmons & Co. International.