For those interested in oil and gas/Houston, The Deal has a great profile of the scene as it currently stands. IB, PE, and the law all get coverage.
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great link
great link Cart! A must read for all aspiring energy bankers/traders.
Phenomenal link thank you.
great thanks
definitely a solid find... +1
Nice link...thanks.
So how is UBS doing? Stabilized?
Damn, they named everyone in there...
SB.
Good read, thanks! Eerily similar to Big Rich
Glad you enjoyed it. Here's hoping for $100+ oil and $10 nat gas...we can dream at least.
I will take $6 nat gas! Maybe even $5.50 at this point...
Yeah it's tough as shit to make money with $4 gas
Thanks for posting. Just curious for those who are considering doing oil and gas in Houston do you think it usually helps to have ties to the area? I've got ZERO connections to Houston and oil and gas and am wondering if there might be a cultural barrier. Can anyone speak to specifics on group culture in BBs down south? i.e. I've heard they've got a fratty vibe and many of the guys working there are from local universities. TIA
It definitely helps to have ties to the area, for two primary reasons.
One, it just helps with fit. If I know what you're talking about when you say Kirby and Westheimer, and say you live in West U and you/your kid went to Kinkaid, etc....our conversation is going to be a lot more comfortable.
Two, the banks are pretty wary (maybe more so at the associate level) of people who would secretly rather do new york and are just using Houston to break in or as a backup. So if you have ties to the area, you dont have to prove your desire to be in Houston as much/at all.
Ties to the industry are not as important, but if you do have them, it is a huge plus (more so than being from the area). The technical nature of oil and gas is such that it helps a great deal to know the lingo. Obviously this is more relevant at the associate level.
Having said all of that, it is by no means impossible to break in if you were an engineer from bumbleballs minnesota. Of those of us going to Houston from my MBA program, there are engineers, military, s&t, complete random nonsense from the insurance world, real estate and then of course a few who had oil and gas experience (but not oil and gas finance). Only about half had ties to Houston.
Id prefer to comment on the culture of the offices privately. Some are fratty by the Southern definition, not the meat head yankee definition, some not so much.
More of the 'good 'ol boys' and less of the 'frat frat bro frat bro'?
right. i.e. cool v. terrible.
How big are the biggest offices in Houston, 100 bankers?
Vineyard Vines and golf rather than lax bros. Interesting.
mmm...not that big. Citi has to be the largest now with the UBS entrants. I think interviews they said they had 80 or something, but that is an outlier.
Most have 30-40 I would estimate. Hard to say as I rarely met or saw an analyst.
Ya I would say 30-50 is probably a safe estimate from the banks I talked to. I think any bank down there with over 50 is pretty rare.
I agree with Cartwright's post about just fitting in..... Its speaks volumes to know the area from first hand livingb exp.. you have no idea how often someone will mention a little hole in the wall and 5 people jump in and have views on it... you just cant get that if you dont know the area... and 100% agree I can tell when you use Houston as backup.... most folks at UT/Rice MBA have their sights on Houston from the start...
Thanks for the post, definitely going to look into this
Cartwright or Monty - ever try bubba's texas burger shack? I drive by it sometimes and it's such a hole in the wall, but always has nice/semi-nice cars outside
Some dudes at my work got this the other day. Shit smelled delicious. Might have to try it now...
^^Where is that located?
Acres homes....
ACRES SHAKERS/MONEY MAKERS....THAT 44
SB +1
You were my only hope to get that reference monte, didn't know how often you made to that nawf side though.
it's under 59 between chimney rock and 610. go try their buffalo burger and you'll know why those cars are there.
I'm from that soufwest, ALIEF TEJAS baby!!! It's funny how Houston has changed over the years. We're BIG time now.
If you guys like burger joints, ya'll need to hit up Tornado Burger. Its off of 59 and West Belfort, just before Sugar Land starts. Probably some of the best burgers in town.
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