TPH versus PEP
what is the difference between Tudor Pickering Holt (TPH) and Pickering Energy Partners (PEP)?
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for ib, i believe TPH does traditional o&g/energy and PEP does energy transition only. also TPH has been around for a while whereas PEP is a spinoff (Pickering) and is relatively new
BUMP any info in 2026
TPH in Houston is a household name and now is acting more like a coverage group sitting under PWP. Probably the 4th best independent advisory banks behind JEFF, EVR, MOE in Houston
PEP is a merchant bank that does primarily LMM deals. It was founded by Pickering who built TPH from the ground up. Good momentum but not a household name
Do you know if PEP comps in line with street? Interviewing for an analyst role and their comp range for base seems to be 85-95K, which seems low.
No idea but saw some material from them it seems they were constantly on some $10 million PDP Non-Op deal. Would not be surprised if they pay below street
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Del
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