The Latest Breaking News from Permian Basin

Abandoned wells in the Permian Basin are increasingly erupting with briney, polluted water. The Texas Railroad Commission says it needs emergency money to respond.

Warren Buffett has taken a significant stake in Occidental Petroleum (OXY), a dividend-paying energy stock trading at a discount, with attractive valuation metrics and a steady dividend yield. OXY's strategic moves, debt reduction efforts, and expansion in the Permian Basin make it a potentially lucrative investment opportunity.

Diamondback Energy recently outperformed the broader energy sector, and analysts seem confident about the stock’s potential, citing its solid position in the Permian basin and pending acquisition.

Merger and acquisition activity in the U.S. oil and gas sector has surged to almost $200 billion in the past year. Not surprisingly, the country’s richest shale area - the Permian Basin - has been the focus of much of the activity over the past five years - and with…