Oil-Trading Giant Vitol Eyes Shale Expansion With New Venture
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Vitol Group, the world’s largest independent oil trader, is partnering with shale specialists who formerly led Brigham Exploration Co. to expand amid the highest crude prices in seven years.
The trader and Austin, Texas-based driller ATX Energy Partners LLC formed VTX Energy Partners LLC to acquire wells in the Permian and Bakken shale regions, according to a statement on Wednesday. Former Brigham finance chief Gene Shepherd will be chief executive.