HOUSTON—Mirroring upstream A&D market trends so far this year, the mood at Summer NAPE could be summed up in one word: subdued.
The annual expo focused on the buying, selling and trading of oil and gas prospects attracted more than 2,500 oil and gas professionals to the George R. Brown convention center in downtown Houston on Aug. 21-22. Across the board, the number of attendees and exhibitors at this year’s Summer NAPE dropped from the previous year, but so has deal flow.
Rex Stahla, an exhibitor, agreed that this year’s Summer NAPE had a different atmosphere. He told Hart Energy that his company, Woodbury Resources LLC, has also seen a recent slowdown in deal-making.
“That’s what we’re seeing,” said Stahla, who has been coming to NAPE for roughly six years. “Money is tight.”