Entering the final quarter of a lean year, veteran dealmakers in the oil and gas industry are likely ready to see 2020 dead and buried. Though hyperbole is rampant in the industry, the shale generation has never seen a downturn so deep, a market so confused or the descriptor “unprecedented” so overused but correct.
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For buyers, downturns have typically been windows of opportunity, ephemeral periods ripe for potential acquisitions for lower than normal prices. Not this time. Investors’ pressure on returns have tamped down deal activity even before the pandemic. Coupled with a tight capital market, the start of the ’20s has been abysmal for A&D activity and values.
Ever optimistic, Derek Detring, president of Detring Energy Advisors, Chris Atherton, CEO and president of EnergyNet, and Dan Kohl, head of A&D advisory at UBS Investment Bank, joined Oil and Gas Investor via Zoom in early October for an in-depth discussion on the current state of the oil and gas transaction marketplace, as well as what they see for the year ahead.