Insight
Private equity in upstream: views from the inside
Report summary
External pressure is rising on public companies to decarbonise. This is bringing more assets to the market while thinning the pool of traditional buyers. Even where decarbonisation isn’t driving companies towards divestment, most firms are being pressed by investors to focus on cash generation and returns, rather than seeking reserves or production growth. Private equity (PE) has form for spotting a shortage of buyers and filling the gap. There’s a lot of speculation that PE, unencumbered by public investors pushing for progress on ESG metrics, will see huge opportunities in oil and gas and surge into the sector once again. But what is the reality of that speculation? We recently spoke to several people involved in private equity to get their view on whether ESG pressure on public companies will drive more PE buyers into the industry.
Table of contents
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1) Opportunities abound
- The North American uncons growth opportunity
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2) Divergent views on how attractive the opportunities are
- The exit route issue
- Entry valuations need to be low
Tables and charts
This report includes 7 images and tables including:
- New wells in the Permian by operator type
- International opportunities abound - deal pipeline opportunities
- PE upstream acquisitions and disposals by peer group (2005 - 2021)
- M&A deal count by super-region - deep liquidity in North America
- Renewables versus oil and gas market ratings
- PE acquisitions by portfolio maturity
- Upstream project payback times
What's included
This report contains:
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