The U.S. oil industry is coming out of the latest downturn. Within the next few months, the U.S. is expected to pump an average of 10.2 million barrels per day (MMbbl/d) during a month to break the record for monthly oil production set in 1970. On Jan. 26 oil prices hit $66.14.
To increase production operators still need to access capital on relatively short timeframes. How will financial sectors develop new solutions in the coming year to meet industry challenges?
That’s the question posed during the Independent Petroleum Association of America’s Private Capital Conference Jan. 25 to a panel consisting of David Hayes, partner, NGP; Phil Pace, partner, Chambers Energy Capital; Kevin Scotto, managing director of leveraged finance, Wells Fargo Securities; and Brian Thomas, managing director, Prudential Capital Group.