BNN Notes Major oil merger: There’s a major development in the energy sector on Monday morning, as Texas based Diamondback Energy has offered $26 billion to buy the largest privately held oil and gas producer in the Permian Basin, Endeavor Energy Resources. The move would catapult Diamondback into the #3 spot in the Permian behind multinationals Exxon and Chevron, and is a major bet that the shale boom built around the Permian has several more years and decades to run. The move comes after Exxon spent $60 billion to buy up Pioneer in the same area, and is only the latest bout of consolidation in the oil sector that is roping in Canadian names. On Friday, Oklahoma-based oil and gas firm Devon Energy is in talks to acquired Calgary-based driller Enerplus Corp. While Enerplus isn’t much of a presence in the Permian, it is a major player in the Bakken shale basin of North Dakota and the Marcellus region in Pennsylvania. While there’s still no confirmation of a deal, Enerplus shares jumped 10 per cent on the news and have stayed there. It will be interesting to watch if consolidation in the energy sector keeps on going.