Law360 Quotes David Sweeney in Energy M&A Year-in-Review Article
David Sweeney, an oil and gas partner at Akin Gump, has been quoted in the Law360 article “Private Equity Powered Energy M&A In 2017,” which reports that energy dealmaking during the past year was dominated by private equity firms.
Among the trends that stood out, as noted in the article, was that the Permian Basin is no longer the only place to search for deals. The number of big-ticket transactions slowed down as 2017 progressed, due partly to the fact that oil prices have recovered to a level where it is profitable to drill in other regions.
“There’s a lot of capital that is actually trying to find different homes,” said Sweeney. “It’s difficult to get into the Permian at a good price. I’ve seen deals in places that are trying to serve an underserved community, in a lower-middle market, in aspirational, unconventional plays, or places where the market is going to give you a bump.”