[Editor's note: A version of this story appears in the February 2021 issue of Oil and Gas Investor magazine.]
Despite the roller coaster of 2020, Stephens Inc., the investment banking firm, closed six deals representing $6.3 billion in volume, three of those being M&A transactions in the oilfield services space. It also worked on restructuring for Martin Midstream Partners and private-equity-backed MP Resources, and it was involved in California Resources Corp.’s restructuring as well. Recently it’s been adding to its A&D group in anticipation of a busier 2021.
Building on many years of experience, in December, the energy team hosted the third in a series of webcasts that looked at all the major themes that affected the oil and gas industry in 2020 and discussed what they expect in the coming year. Oil and Gas Investor was pleased to be asked to moderate that panel discussion. The topics ranged from how private equity is thinking about the space, to SPACs, to President Biden and the energy transition and the rise of natural gas. What follows is a transcript, edited for length and clarity.
The participants were Keith Behrens, head of the energy investment banking team at Stephens, who was joined on the panel by his colleagues Paul Moorman and Brad Nelson, both managing directors, the latter specifically in Stephens’ energy capital solutions group. Also speaking was Holt Foster, a partner with the law firm Thompson & Knight LLP in Dallas, and Artem Abramov, partner and head of shale research at Rystad Energy, the noted consulting firm based in Oslo, Norway.