“2018: So Far, So Good; But Why Only ‘Good’?”
January 2018 was greeted by stable energy markets, pent-up private equity and a spanking new investor-friendly tax law. That sounds like the elements of a record year, right?
The first half of 2018 didn’t exactly play out that way. The numbers were strong enough, but not record-breaking.
…Thompson & Knight partner Wesley Williams in Dallas said a lot more midstream deals have been crossing his desk than oil exploration and production, noting his counsel of Old Ironsides Energy-backed Brazos Midstream on the sale of its Delaware Basin units to Morgan Stanley’s North Haven Infrastructure Partners II for $1.75 billion.
“Pricing was moving around a bit [for E&P deals] in the first half and stable pricing is better for getting deals accomplished,” he said. “People seem to be getting more comfortable now with commodity levels.”