Texas edges out North Dakota in this oil list

Texas and North Dakota routinely battle for U.S. oil production supremacy, and in one recent list the southern state got an edge.

Small- to medium-sized oil companies focusing their operations in west Texas’s Permian basin can at least maintain their production this year without busting their budgets, according to a Citi research note released this week.

The bank highlighted Concho Resources Inc. CXO, -4.62% Cimarex Energy Co. XEC, -4.43% and Energen Corp. EGN, -5.35%  as the companies to keep in an energy-defensive portfolio because of their operating cash flows.

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