Following a historic quarter for the oil and gas industry marked by an unprecedented price crash, Bryan Benoit, a principal at Grant Thornton Financial Advisors, is starting to see signs of a recovery ahead.
“From my perspective, the outlook is very good,” Benoit said. “Especially, as we get into the second- and third-quarter of 2021. Of course, the recovery and path forward for oil and gas just gets better from there. Most interestingly, I’ve witnessed firsthand that this has started to be reflected in my client’s forecast.”
In this interview with Hart Energy’s Jessica Morales, Benoit, who also leads Grant Thornton’s energy advisory practice in addition to serving as national managing partner for the firm’s corporate value consulting practice in the U.S., discusses second-quarter earnings, bankruptcy filings, M&A outlook plus gives his take on what Chevron Corp.’s multibillion-dollar acquisition of Noble Energy Inc. could mean for the industry.
Jump to a topic:
- Second-quarter earnings (0:19)
- Bankruptcy filings (1:45)
- M&A bounce back (3:21)
- Chevron’s takeout of Noble Energy (4:21)
- Bank redetermination process (5:55)
- Downturn’s effect on energy transition (7:16)
- Industry’s path forward (8:06)
Just days after Prime Minister Boris Johnson’s government spent millions of pounds to avert a food shortage due to a spike in prices for natural gas, ministers asked people to refrain from panic buying.
Democratic presidential hopeful Amy Klobuchar on Saturday called for revamping the Environmental Protection Agency's (EPA) rules governing how small refineries are exempted from the nation's biofuel laws, a proposal aimed at boosting her standing in the politically critical state of Iowa.
The Trump administration on Oct. 4 unveiled a plan to boost U.S. biofuels consumption starting next year to help struggling farmers, a move that cheered the agriculture industry but triggered a backlash from the oil industry.