Advice needed on Oil and Gas Banking

Fellow bankers, I have a question about Houston I-banking. I was a Summer Associate at a top 5 BB in NY in the tech sector, and have an offer to go back. Due to personal reasons (the wife not being able to move to NY cos of her career), I recruited in Houston (where she is), and got an offer at a competing BB in the Energy group.

I have a technology background, and have never worked anywhere remotely close to the Oil and Gas industry.

My question is:

  1. how tough is it for someone with no Oil and Gas experience to learn the industry, considering it's not as exciting and fast-growing as tech?

  2. I am not very well-versed with what drives dealflow in Energy - commodity prices? What really is the driver, considering there are no new ideas in Oil and Gas and it's a stable industry?

My other option really is to make my wife quit her job and shift to New York but I am just not comfortable doing that in this economy.

Please share your thoughts. Thanks in advance

WB.

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