The Permian Basin has been of prime focus in the U.S. oil and gas industry. It is the second largest shale oil deposit in the world and the largest in the U.S. behind Saudi Arabia's Ghawar field (which is producing 5 million barrels a day), Cumulatively the Permian Basin produced over 30 billion barrels of oil and 75 trillion cu ft. of gas since its output began in 1921. In November 2016, a U.S geological survey indicated resources in the Permian Basin could exceed 20 billion barrels of oil. Meanwhile, over $28 billion was injected into the Permian Basin in 2016 (three times that in 2015). Daily oil production in the Permian Basin increased more than 30% since January 2014 to over 2 million BOE/day. This remarkable growth indicates that the economics of oil recovery in the Permian Basin are robust even in a relatively low-price environment. Private equity firms and oil companies have poured billions of dollars into the Permian Basin over the last year, vying for position in an oilfield so prolific it’s generated profits even during the worst crude-market slump in a generation, ▪ Private equity sold more than $26 billion worth of assets, mostly to the public market Permian Basin Chevron said its exploration budget for the Permian Basin in 2018 would be $4 billion [8] 21 in the past year—including $17 billion in the Permian Basin, according to KeyBanc Capital Markets [5], ▪ Private Equity players were involved in deals worth around $13 billion in the first half of 2017... Within the United States, Private Equity investors primarily focused on the Permian Basin, with a total of 59 M&A deals backed by PE participation.