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Report: Petronas Mulling Buying Permian E&P DoublePoint Energy

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   |    Friday,August 21,2020

Malaysia's Petronas is in talks to possible acquire Permian player DoublePoint Energy, according to a report by Bloomberg.

Citing people familiar with the matter, the report noted that the talks were spurred in part by Chevron's pending multi-billion dollar takeover of Noble Energy (announced on July 20, 2020).

If a deal were to be struck, it would be valued in the billions.

Neither Petronas or DoublePoint would comment on the matter.

This would not be the first time sales rumors have surrounded DoublePoint. Back in February 2019, the company reportedly mulling a potential sale of the company. Ultimately, no deal ever came to fruition.

DoublePoint's Assets / Recent Activity

The company's position is concentrated in the Midland Basin area of the Permian.

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