Large cap oil M&A may lead to new large-cap company

Fast and furious deal-making in the shale fields of west Texa's Permian basin may end with the creation of a new oil major,says Parsley Energy(PE) CEO Bryan Sheffield.Noting several recent M&As there,he says at the NAPE oil conference that any one merger"could lead to a chain reaction,a frenzy of mulfiple mergers,perhaps resulting in the creation of a large-cap to compete with Exxon,Chevron,ConocoPhillips."