“Oil and Gas Prices and DFW Real Estate: Here’s What You Need to Know”
When it comes to energy-industry reaction to the steep decline in oil prices since last year, don’t believe everything you read, says Dennis Grindinger. He is Hunt Oil’s executive vice president for South America, but at a panel discussion today on oil and gas prices and North Texas real estate, he stressed that he was speaking for himself, not for Hunt.
And recover it will, the panelists agreed, as the drilling-rig count declines by half, as global energy demand picks back up, and as private-equity firms “pounce” on premier but over-leveraged assets at discount prices. Asked by moderator Emily Parker of Thompson & Knight LLP to predict the price of a barrel of West Texas Crude one year from now, there was surprising agreement. Briggs, Weinstein, Puckett, and J. Holt Foster III of Thompson & Knight predicted $65, $62, $63.50, and $64, respectively. Grindinger pegged the price a year from today at $78, while William Jackson of NorthMarq Capital LLC predicted $79.
The private panel discussion was presented by Briggs Freeman Sotheby’s and Thompson & Knight.