The US shale sector is seeing further consolidation with Pioneer Natural Resources on 1 April agreeing to pay $6.4bn for DoublePoint Energy in a deal that sees it leapfrog Chevron and Occidental as top Permian producer.

Chevron was top for Q4 2020 with a record 611,000 boe/d following last October’s completion of its $4.1bn takeover of Noble Energy. Oxy was top for 2020 as a whole with 575,000 boe/d, falling to 517,000 boe/d for Q4 with Oxy particularly aggressive in cutting output and spending. (CONTINUED - 272 WORDS)