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Report: Shell 'actively' seeking deals to grow Permian output by 30% per year

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Report: Shell 'actively' seeking deals to grow Permian output by 30% per year

Oil major Royal Dutch Shell PLC is seeking deals in the Permian basin to bulk up its position, according to a March 11 article from Bloomberg, citing incoming Shell Upstream director Wael Sawan.

"We are definitely actively looking at opportunities," Sawan said in an exclusive interview.

Shell U.S. President Gretchen Watkins said the company produces 145,000 barrels of oil equivalent per day in the Permian and plans to boost production in the shale play by 30% per year "for the [foreseeable] future," according to the Bloomberg report.

Shell was earlier reported to be considering a bid for Endeavor Energy Resources LP, which is one of the Permian's largest private operators.