"Texas Oil Industry Sees Surge in Billion-Dollar Deals"

Wall Street is embracing the era of Big Shale as a result of a series of deals totaling $250 billion in the US oil and natural gas sector, consolidating small wildcatters into larger corporations. Diamondback Energy's takeover of Endeavor Energy Resources LP marks the latest in this trend, with the stock jumping 11% upon the announcement. The consolidation wave is seen as a remedy for years of overspending by shale drillers, and it signifies a shift towards a "big-company game" driven by demands for scale, efficiency, and cash returns. The evolution of the shale industry is expected to lead to an era of survival of the biggest, with Diamondback set to double its market value and become a major player in the Permian Basin.