Strategic Exits and Distressed Acquisitions Are in the Cards for Texas M&As in Oil and Gas
Texas Lawyer spoke to Philip Dunlap, David Bowsher and Derek Anchondo of Balch & Bingham about the types of deals likely to occur in the coming months as well as what to anticipate in the future.
May 21, 2020 at 08:05 PM
8 minute read
Philip Dunlap (partner), David Bowsher (partner) and Derek Anchondo (partner) are part of Balch & Bingham's Houston-based mergers and acquisitions team. They help their clients by providing insight into the current state of M&As in the oil and gas industry. Texas Lawyer spoke to them recently about the types of deals likely to occur in the coming months as well as what to anticipate in the future.
Can you tell me about the current state of mergers and acquisitions in the oil and gas industry?
Philip Dunlap: It's a surprise to no one that deal volume is down in 2020 and particularly in the oil and gas industry. However, depending on the sector of this industry, there will be opportunities for deals as everyone starts to reengage in the market. In the upstream and oilfield services sectors, the deals that will be pushed through this year are those where buyers think they are getting a discount or sellers are extremely motivated to sell (either out of necessity or desire to "hang it up"). I expect that lack of available debt will mean more strategic buyers closing deals than financial buyers. Although not traditional "oil and gas," I've seen a couple of deals in the retail gasoline market close this year. Those businesses are not tied to the price of WTI crude like the upstream and midstream sectors, so buyers and sellers are still working through traditional deal scenarios.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Trending Stories
- 1The Law Firm Disrupted: For Big Law Names, Shorter is Sweeter
- 2Wine, Dine and Grind (Through the Weekend): Summer Associates Thirst For Experience in 'Real Matters'
- 3'That's Disappointing': Only 11% of MDL Appointments Went to Attorneys of Color in 2023
- 4What We Know About the Kentucky Judge Killed in His Chambers
- 5'I'm Staying Everything': Texas Bankruptcy Judge Halts Talc Trials Against J&J
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250