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ExxonMobil and Noble Energy announced plans to build their respective Permian Basin portfolio, buys that 'continue to move the needle,' says Cramer.
Noble Energy's deal for Clayton Williams and Exxon Mobil's purchase of Permian acreage is pushing prices in the sector higher.
The oil rig count dips by seven, while gas rigs climbs by one less than two weeks after OPEC began its production cuts.