Sabine said March 16 that it is considering “strategic alternatives” to its capital structure following legal action by bondholders seeking $584 million. The company has been served a notice of default by its lender.


Deal activity flounders as Cabot Oil & Gas Corp., Energen Corp., Diamondback Energy Inc., Gulfport Energy Corp. and others are said to be companies that may be targeted for deals but would command premiums, analyst says.

Price might need to deteriorate further for U.S. production to resume as some companies are building a war chest of wells ready to pump when WTI rebounds.

Permian - Texas Drilling Permits Trends

7 Day Trend107 (-1)
30 Day Trend425 (-171)
1 Year Trend10661 (+1831)
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Service & Support Companies

Permian Basin Resources

Company Net Acreage
Occidental 1,935,000
Apache 1,700,000
Chevron 1,319,000
Devon/Sumitomo 1,280,000
All Top Acreage Holders