Source: ey.com press realease 21 June 2016
Private equity (PE) firms are readying to deploy capital into the global oil and gas sector with 25% planning acquisitions before the end of the year and 43% by the first half of 2017, according an EY global survey of 100 PE firms active in the sector.
Andy Brogan, EY Global Oil & Gas Transactions Leader, says:
“Access to financing is arguably the biggest challenge facing oil and gas companies. While many expected PE funds to swoop in with capital during the oil price downturn over the last 18 months, investment has fallen short. But the tide may be turning. Greater consensus over the oil price future and more favorable asset valuations are improving the conditions for PE, and we expect to see an uptick in deals before the end of the year.”