2 No-Brainer Stocks to Buy in the Permian Basin
The Permian Basin in Western Texas is the place to be these days. Thanks to the oil-rich nature of its rocks and lower drilling costs, shale drillers can earn lucrative returns by drilling new wells in the Basin at current oil prices. That has fueled a land rush over the past year as drillers have snapped up acreage so they can deliver high-return growth in the years ahead.
That said, while hundreds of companies are currently operating in that legacy oil play, two pure-play producers stand out as no-brainers for investors seeking to ride the industry's coat tails: Pioneer Natural Resources (NYSE: PXD) and Concho Resources (NYSE: CXO). Here's why investors who want to add the power of the Permian to their portfolio should consider this duo.
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Source: Fool.com
