The high cost of Permian acreage is making Statoil think twice about following other players into making acquisitions in what is currently the hottest US onshore basin.
The Norwegian state-controlled player is, however, open to adding to its US onshore position as it ups its overall capital expenditure this year and next.
The Permian basin and sub-basins such as the Midland and Delaware have seen feverish merger and acquisition activity in the past few weeks, with ExxonMobil’s
