Steven Otillar Comments on Shift Toward U.S. by Oil and Gas Independents
Akin Gump energy partner Steven Otillar was quoted by Law360 in the article “US Energy Boom Keeps Oil, Gas Independents Close To Home.”
The article explores what it says is a growing trend by U.S. oil and gas companies to shed international assets and focus on U.S. operations. Otillar, however, noted, “there are smaller independents that are still going international,” looking to hit a “home run” in projects such as the Jubilee oil field off western Africa or the Tamar gas field in the eastern Mediterranean Sea.
Regarding those independents that are shifting their business to the United States, Otillar said it might be related to a decision to capitalize on unconventional resource assets, such as shale. The article also points out there are fewer risks for the independents that choose to remain in the United States.