Houston 2026 Oil & Gas Investment Banking Rankings
CLEAR INDUSTRY LEADERS
1. Jefferies: The undisputed goats
2. RBC: A&D slave workers who have touched most significant transactions this year—EQT//Range, ONEOK//Brazos, Continental//FireBird, etc.
3. Evercore: Exclusive on Devon//Coterra just barely edges out J.P. Morgan
4. J.P. Morgan: EQT//Range, Devon//Crescent, better deal flow than Goldman Sachs
5. Goldman Sachs: Devon//Coterra, Transocean//Valaris, and then went to sleep
TIER 2 BANKS
6. Citi: Mitsubishi//Aethon, barely touched Magnolia//Wildfire, and got on EQT//Range
7. Moelis: Deal flow is picking up, but so is the sweatshop reputation—got on Magnolia//Wildfire and some other A&D transactions. They want to compete with Jefferies and RBC but probably never will
8. Barclays: touched all significant midstream transactions
TIER 3 BANKS
9. Bank of America: somehow get their name listed on a couple multi-billion dollar deals every year
10/11. Truist/Mizuho-Greenhill: couple significant transactions apiece
12. Piper Sandler: OFS, OFS, OFS
13. Wells Fargo: Ovintiv//Stone Ridge, uhhhh what else
14. TPH&Co.: has done exactly nothing this year
15. Lazard: should keep their Houston office focused on PU&I rather than claiming "Energy"
Any bank not listed on here is (unfortunately) irrelevant
Put GS at #2. Any list where JEFF and GS are not #1 and #2 is wrong
Correct, no one will take RBC over GS
GS also did VTX and Shell ARM. Should be the top one (I would take it over JEFF just because of the name)
RBC (who is currently #2) also did Shell//ARC, plus it was a Canada deal. If you read the title this is for Houston. You can Goldman Sachs prestige monger elsewhere
Congrats on RBC. I interned at GS this summer in 2026 - our Houston office ran the entire process. RBC ran its process out of its Canadian office. We also closed the National Fuel Gas spin-off. Just search it up
Citi is cooked. TPH should be tier 2 if Citi is tier 2
But they still closed some big deals no?
CIBC?
The most irrelevant bank I have ever seen
You forgot Texas Capital and BTIG
This is a solid list, but Raymond James and HL should be in the discussion. HL/Intrepid did Vaquero Midstream, and RJ did 20+ deals.
HL post acquisition might be pretty solid but I don’t think RJ is better than any players on the list
MS?
The runs in lil bro get off WSO and drop it in the NAV
Why don’t you log off WSO then? Wanna fight at Lizzards on Saturday night?
You are clearly a sophomore. Everyone knows you only go on thursdays
Also MS should at least be tier 3
MS did literally zero deal this year
Congrats on RBC
RBC is solid. I guess he prolly went to Citi
I don’t work at Citi. I agree with the TPH take above if it was for last year, but I think Citi has genuinely had a solid year. TPH, on the other hand, has not done anything besides watch their bankers leave.
EQT//Range
Magnolia//Wildfire (albeit a minuscule role behind Moelis’ lead and only because of a historic relationship between Trauber and MGY)
Mitsubishi//Aethon
Diversified//Birch
Diversified//Camino-Carlyle
Enbridge//Tallgrass
Delfin FLNG Financing
Everyone saying “Congrats on RBC” has to be trolling and doesn’t actually understand how Houston works. This list is very accurate…well done OP
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