American Oil and Gas Reporter - July 2016 - 41

Private Equity
Enables Service Firms
To Improve
Well Economics
By Colter Cookson
According to alternative investment research ﬁrm
Preqin, private equity ﬁrms have $971.4 billion on
hand to invest in the oil and gas sector. For
perspective, that is three times the size of Canada's
total budgeted federal expenditures in ﬁscal year
2016. Even for a capital-intensive industry, that is a
lot of investment dollars waiting for opportunity to
come knocking!
A survey of private equity ﬁrms conducted by Ernst
& Young suggests much of that capital will go to
producers and midstream companies, but upstream
service companies focused on all aspects of the value
chain-from exploration to drilling, completion,
production and even back-oﬃce business functions-
also are in the mix for private equity placements.
"Historically, the oil and gas service sector has
delivered high returns to investors," observes Lee
Colley, the former chief operating oﬃcer of
Weatherford International, who has spent the past
nine years investing in oil ﬁeld service companies
individually or through private equity funds. "Today,
private equity investors see an opportunity to buy
into proven ﬁrms or build new ones at attractive
discounts. They are coming in at a low cost and
positioning themselves to beneﬁt from the increase
in demand and pricing as activity turns around."

American Oil and Gas Reporter - July 2016

Table of Contents for the Digital Edition of American Oil and Gas Reporter - July 2016

Contents
American Oil and Gas Reporter - July 2016 - Cover1
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American Oil and Gas Reporter - July 2016 - Contents
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