Publicly held Diamondback Energy is buying privately held oil driller Endeavor Energy Resources, creating a company worth $50 billion.
Big companies have been paying billions to acquire smaller competitors — and their drilling rights.
The Permian Basin, which runs through West Texas and New Mexico, produces more oil than most countries.
Shortages of labor and materials are making it hard to drill and maintain wells.
Burning excess natural gas can be less costly than figuring out a way to use it, but the practice spurs climate change and hurts air quality.
It outperformed San Francisco, New York City and Los Angeles.
Analysts have raised questions about the limits of shale oil wells in the United States.
The market for McCulloch County sand has been drying up.
Will there be other deals like it?
Midland, which has only one homeless shelter with 20 beds but 264 homeless people, is resistant to government aid for its needy residents.