Photo: Steve Gonzales, Staff
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An oil rigs pumps near Halliburton's fracking site Monday, June 26, 2017, in Midland. ( Steve Gonzales / Houston Chronicle )
An oil rigs pumps near Halliburton's fracking site Monday, June 26, 2017, in Midland. ( Steve Gonzales / Houston Chronicle )
Photo: Steve Gonzales, Staff
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A non-working pumpjack sits over land leased by Diamondback Energy for horizontal drilling Wednesday, Sept. 14, 2016 outside Midland. ( Michael Ciaglo / Houston Chronicle )

A non-working pumpjack sits over land leased by Diamondback Energy for horizontal drilling Wednesday, Sept. 14, 2016 outside Midland. ( Michael Ciaglo / Houston Chronicle )

Photo: Michael Ciaglo/Houston Chronicle
Image 3 of 24 | Texas energy companies in the Fortune 500
4. Exxon Mobil
Headquarters: Irving
CEO: Darren Woods
Revenue: $205 billion

4. Exxon Mobil
Headquarters: Irving
CEO: Darren Woods
Revenue: $205 billion
Photo: Matt Brown, STF
Image 4 of 24 | Texas energy companies in the Fortune 500
34. Phillips 66
Headquarters: Houston
CEO: Greg Garland
Revenue: $72.3 million

34. Phillips 66
Headquarters: Houston
CEO: Greg Garland
Revenue: $72.3 million
Photo: Daniel Acker
Image 5 of 24 | Texas energy companies in the Fortune 500
37. Valero Energy
Headquarters: San Antonio
CEO: Joseph Gorder
Revenue: $70.1 billion
37. Valero Energy
Headquarters: San Antonio
CEO: Joseph Gorder
Revenue: $70.1 billion
Image 6 of 24 | Texas energy companies in the Fortune 500
79. Energy Transfer Partners
Headquarters: Dallas
CEO: John McReynolds
Revenue: $37.5 billion
79. Energy Transfer Partners
Headquarters: Dallas
CEO: John McReynolds
Revenue: $37.5 billion
Photo: John L. Mone, STF
Image 7 of 24 | Texas energy companies in the Fortune 500
115. ConocoPhillips
Headquarters: Houston
CEO: Ryan Lance
Revenue: $24.3 billion
115. ConocoPhillips
Headquarters: Houston
CEO: Ryan Lance
Revenue: $24.3 billion
Photo: F. Carter Smith, COURTESY PHOTO
Image 8 of 24 | Texas energy companies in the Fortune 500
117. Tesoro
Headquarters: San Antonio
CEO: Gregory Goff
Revenue: $24 billion
117. Tesoro
Headquarters: San Antonio
CEO: Gregory Goff
Revenue: $24 billion
Image 9 of 24 | Texas energy companies in the Fortune 500
122. Enterprise Products Partners
Headquarters: Houston
CEO: A. James Teague
Revenue: $23 billion 
122. Enterprise Products Partners
Headquarters: Houston
CEO: A. James Teague
Revenue: $23 billion 
Photo: Tom Stromme, MBO
Image 10 of 24 | Texas energy companies in the Fortune 500
141. Plains GP Holdings
Headquarters: Houston
CEO: Greg Armstrong
Revenue: $20.1 billion 
141. Plains GP Holdings
Headquarters: Houston
CEO: Greg Armstrong
Revenue: $20.1 billion 
Photo: Daniel Acker
Image 11 of 24 | Texas energy companies in the Fortune 500
173. Halliburton 
Headquarters: Houston
CEO: Jeffrey Miller
Revenue: $15.8 billion
173. Halliburton 
Headquarters: Houston
CEO: Jeffrey Miller
Revenue: $15.8 billion
Photo: James Durbin
Image 12 of 24 | Texas energy companies in the Fortune 500
215. Kinder Morgan
Headquarters: Houston
CEO: Steven Kean
Revenue: $13 billion 
215. Kinder Morgan
Headquarters: Houston
CEO: Steven Kean
Revenue: $13 billion 
Image 13 of 24 | Texas energy companies in the Fortune 500
274. HollyFrontier
Headquarters: Dallas
CEO: George Damiris
Revenue: $10.5 billion 
274. HollyFrontier
Headquarters: Dallas
CEO: George Damiris
Revenue: $10.5 billion 
Image 14 of 24 | Texas energy companies in the Fortune 500
278. Occidental Petroleum 
Headquarters: Houston
CEO: Vicki Hollub
Revenue: $10.3 billion
278. Occidental Petroleum 
Headquarters: Houston
CEO: Vicki Hollub
Revenue: $10.3 billion
Photo: James Durbin
Image 15 of 24 | Texas energy companies in the Fortune 500
285. Baker Hughes
Headquarters: Houston
CEO: Martin Craighead
Revenue: $9.8 billion
285. Baker Hughes
Headquarters: Houston
CEO: Martin Craighead
Revenue: $9.8 billion
Photo: Bill Montgomery
Image 16 of 24 | Texas energy companies in the Fortune 500
344. Anadarko Petroleum 
Headquarters: The Woodlands
CEO: R.A. Walker
Revenue: $7.8 billion
344. Anadarko Petroleum 
Headquarters: The Woodlands
CEO: R.A. Walker
Revenue: $7.8 billion
Photo: MELISSA PHILLIP, HOUSTON CHRONICLE
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349. Western Refining 
Headquarters: El Paso
CEO: Gregory Goff
Revenue: $7.7 billion
349. Western Refining 
Headquarters: El Paso
CEO: Gregory Goff
Revenue: $7.7 billion
Photo: Lester Lefkowitz/Getty Images
Image 18 of 24 | Texas energy companies in the Fortune 500
356. EOG Resources
Headquarters: Houston
CEO: William Thomas
Revenue: $7.6 billion
356. EOG Resources
Headquarters: Houston
CEO: William Thomas
Revenue: $7.6 billion
Photo: Billy Smith II, Staff
Image 19 of 24 | Texas energy companies in the Fortune 500
362. CenterPoint Energy
Headquarters: Houston
CEO: Scott Prchazka
Revenue: $7.5 billion
362. CenterPoint Energy
Headquarters: Houston
CEO: Scott Prchazka
Revenue: $7.5 billion
Photo: James Nielsen, Staff
Image 20 of 24 | Texas energy companies in the Fortune 500
375. National Oilwell Varco
Headquarters: Houston
CEO: Clay Williams
Revenue: $7.2 billion 
375. National Oilwell Varco
Headquarters: Houston
CEO: Clay Williams
Revenue: $7.2 billion 
Image 21 of 24 | Texas energy companies in the Fortune 500
400. Calpine Corp. 
Headquarters: Houston
CEO: Thad Hill
Revenue: $6.7 billion
400. Calpine Corp. 
Headquarters: Houston
CEO: Thad Hill
Revenue: $6.7 billion
Image 22 of 24 | Texas energy companies in the Fortune 500
402. Targa Resoures
Headquarters: Houston
CEO:  Joe Bob Perkins
Revenue: $6.6 billion 
402. Targa Resoures
Headquarters: Houston
CEO:  Joe Bob Perkins
Revenue: $6.6 billion 
Photo: NA, Targa Resources
Image 23 of 24 | Texas energy companies in the Fortune 500
488. Apache Corp.
Headquarters: Houston
CEO: John Christmann IV
Revenue: $5.3 billion
488. Apache Corp.
Headquarters: Houston
CEO: John Christmann IV
Revenue: $5.3 billion
Photo: Michael Ciaglo, Staff
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499. Vistra Energy
Headquarters: Dallas
CEO: Curtis Morgan
Revenue: $5.1 billion
499. Vistra Energy
Headquarters: Dallas
CEO: Curtis Morgan
Revenue: $5.1 billion
Photo: Allison V. Smith, STR

Oasis Petroleum has agreed to buy thousands of acres for nearly $1 billion in the coveted Delaware Basin in a cash and stock deal.

The Houston oil producer said it would snap up 20,300 net acres in the West Texas oil patch from San Antonio explorer Forge Energy. The $946 million deal, expected to close in February, includes $483 million in cash and 46 million shares.

Those acres in Loving, Ward, Winkler and Reeves counties pumped 3,500 barrels of oil equivalent a day in November.

"Our new Permian Assets deliver a consolidated position in the deepest and highest pressured part of the Delaware in the heart of the oil window," Oasis CEO Tommy Nusz said in a statement.

Meanwhile, Oasis said it also expects to sell off unimportant acreage in the Williston Basin for $500 million next year. Nusz said he expects the company to generate free cash flow in its exploration and production business next year if oil prices hover around $55 a barrel.

HoustonChronicle.com: Cracked pipeline sends crude surging while OPEC, shale drillers in oil-market tug-of-war