Not in energy banking so excuse any naiveté. Curious how things are going during these obviously tumultuous times. How is deal flow? Are clients really raking it in or is a lot of this upside just hedged out? Overall, how does this compare to previous oil spikes? Both senior and junior input much appreciated!
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Are you talking about US or EMEA ?
US was my intent, but would be interested in hearing abt both
Bump
bump curious as well
bump
Bump
Lots of sponsor-backed oil-weighted operators looking to sell, so there's a pretty good pipeline of deals over the next year or two. But M&A is definitely slowing down in the near-term as no buyer wants to have to take a stance on war outcomes.
Public markets M&A is dead for this year. You will see infra financings ramp up though. Might see offshore M&A pick up when war subsides.
Do you think it will be a good year for permian upstream and OFS m&a since the spot price for WTI is hovering around 100 USD
High spot prices help with hedging and cash flow resilience meaning most firms won’t have urgent need for M&A. Deal making requires stable long term price forecasts which are absent in the current market. Bid-ask spreads will be atrocious for now
To add to other points here. All companies that are Oil dominate will have inflated valuations due to current prices. A seller will want to have their reserves valued at 100 per bbl. Where in say a year it’s back to 70 a bbl.
Paying a massive premium in this market for producers, think energy will have a solid year and print money, but M&A (large transactions) will probably be uncommon
From the little I have seen in RX E&P land and related spaces, I would expect RX work to be nearly dead as “a rising tide lifts all boats” and this latest price action helps any heavily debt burdened company make interest payments and pay down principal without having to hire an RX banker
Hot markets right now for M&A
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