By Steve Gelsi, MarketWatch: Sept. 12, 2012, 1:51 p.m. EDT
NEW YORK (MarketWatch) — Royal Dutch Shell and Chevron Corp. moved Wednesday to buy acreage in the Permian Basin of Texas and New Mexico in the latest example of major oil companies bulking up their U.S. holdings as a way to increase production at affordable prices.
In separate deals with Chesapeake Energy CHK -0.85% , Chevron CVX +0.35% will add to its 700,000 acres in the region, while Royal Dutch Shell RDS.A -0.03% UK:RDSA -0.45% will mark its first big acquisition in the Permian. See Energy Stocks for more on Chesapeake.