Another mega-deal in the oil and gas industry is in prospect, with Autry Stephens, the founder of Endeavour Energy Partners, exploring a sale that would value the company in the region of US$25-30 billion.

According to the report by Reuters, the recent spate of sales of independent companies operating in the US, such as Pioneer Natural Resources and Hess, to ‘big’ oil and gas majors has persuaded Mr Stephens, who at 85 years of age wishes to make a decision about the future of his company while still alive, rather than having the decision made by his inheritors. Endeavour operates mostly in the Permian Basin in the US south-west, producing 331,000 barrels of oil per day in the second quarter of this year.

Mr Stephens has previously been approached to sell his business, but has decided against it. Companies such as ExxonMobil, Chevron, and ConocoPhillips have been touted as possible buyers.