In just the first three weeks of 2017, transaction value in the Permian has surpassed 40% of total regional M&A spend last year. Public companies, private operators, Midland Basin, Delaware acreage, bolt on packages, corporate M&A, cash consideration, and equity currency: everything appears to be on the table. We break down four transactions including ExxonMobil's second acquisition of a Fort Worth shale operator, in this case, Bass family-owned companies. The Eagle Ford is setting up to break M&A records too. We discuss Anadarko's exit from the Eagle Ford as Sanchez Energy Corporation and Blackstone Group acquire assets for $2.3 billion. This brings Eagle Ford M&A spend in just the first three weeks of 2017 on par with the previous year's total Eagle Ford deal spend.