Small independents focused on the Permian basin of Texas and New Mexico, the largest US onshore oilfield, are fighting to stay relevant as consolidation looms in the region.
While independents largely carried out the exploration of the Permian, their presence has diminished as the major sub-basins, the Delaware and the Midland, have moved into development mode, said Darrel Koo, director at Calgary-based consultancy RS Energy.
