Law360 quoted Haynes and Boone, LLP Partner Kraig Grahmann about five energy M&A themes that stood out to lawyers in 2018, including consolidations in the upstream sector, joint ventures among drillers and pipeline developers, and private equity investing.
Here is an excerpt:
While oil prices creeping up through much of 2018 brightened drillers' spirits, public investors weren't as sanguine, which meant it was hard to raise funds for increased development through initial public offerings and stock sales, attorneys say.
"It's not a big surprise, because capital markets really got hit hard in the [previous] downturn," Haynes and Boone LLP Partner Kraig Grahmann said. "The capital market investors are still a little wary of things and know they sit near the bottom of the [company's] capital structure."
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