Oil and Gas Banking Canada vs. USA
Hi all,
Rising sophomore at US west coast school. I am considering pursuing an O&G coverage group and wanted to get everyone's input on the Canadian vs US O&G scene. I grew up in Calgary, which is a huge O&G city in Canada, and currently go to school in California. I have dual citizenship.
The main concerns for me are the industry's longer term health, and locations. Obviously, oil is popping off rn bc of the war but do we think that high prices and high activity in O&G is going to continue until 2024 and beyond (when I will be an SA hopefully, Class of 2025)? What are the differences between the US and Canada energy scene.
Secondly, O&G locations. I would be happy to go back to Calgary as love that city but have heard that culture and pay is dogshit (ahem, RBC). At the same time, I'd rather not be in Houston, but the higher comp and pay in USD is appealing.
Lastly, who are the top energy banks in both countries, and are their energy teams only oil and gas, or are things like renewables also included? If anyone can shed insight into the O&G scene, it'd be appreciated.
Houston>Calgary for exposure and deal flow. US banks>Canadian banks for oil and gas. Look at BMO, already closed shop. US banks will hang around longer in it.
Interesting. Do you know if Houston offices are accepting of west coast schools? I'd assume UT Austin sends a ton of kids, but how about USC/UCLA?
My group’s policy is to recruit across different states and schools. We sent a team to Stanford this semester so I am sure if you network you can break in - you’ll just have to explain why energy IB / Houston coming from Cali.
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