Portfolio Reinvention Drives Upstream M&A
In fact, Andy Brogan, global oil and gas transactions advisory services leader at EY, said this is the busiest the business consulting firm has been around oil patch deal activity in the past 10 years.
Rising commodity prices, albeit with some volatility, and an expectation that shale would continue to grow are setting the broader oil patch scene. In addition, a technology-driven cost reduction in deep water is driving expansion offshore and private-equity investment has flowed into the market as well. Still, companies are also taking longer-term “optionality”—investing in alternative and renewable energies, Brogan said during an EY webinar in early July.