Finally, CrownQuest Operating LLC, a Midland, Texas-based private operator with some ties to Lime Rock Partners, is among the list of frequently mentioned potential targets. One source noted the company is among the few remaining privately held operators with a significant Midland Basin acreage position. Following this relatively rapid consolidation of privately held land, though, corporate consolidation is the next logical step in the Permian. But industry sources are weary to say the current commodity environment would support such deal activity. Given the current price of oil, and where it is expected to be over the next year, it might be hard to justify levering up the balance sheet to make a combination between a Diamondback Energy Inc. ( FANG ) and a Parsley Energy or a Parsley and an RSP Permian happen.