"We are attractive for purchasers whatever type of investor it is," Gallagher said in a phone interview with Bloomberg on Thursday. He declined to say if the US shale driller had been approached for a deal.
"We are in a small handful of companies that have some of the best rock and a healthy business model and a very long runway of inventories," Gallagher added. He said expects "healthy consolidation" among independent drillers operating in the world's largest shale basin in the next decade, according to the report.
The $38 billion takeover of Anadarko Petroleum (APC) by Occidental Petroleum (OXY) last month enhanced speculation that there will be an M&A spree among companies exploring for oil in the Permian Basin. However, major producers such as Exxon Mobil (XOM) and Chevron (CVX) have said that they are cautious about buying smaller rivals as sellers are demanding too much money.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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