Despite the recent turbulence in the world markets, gas and oil financing appears strong heading into the new year.
A new survey from professional services firm BDO USA found that a growing portion of chief financial officers in the oil and gas industry are comfortable with the state of financing for the sector, with only 10 percent naming financing as their primary concern for next year.
Nearly one-fifth of these executive - 18 percent - reported feeling much better about the state of oil investing and the majority - 54 percent - expect to increase the number of oil rigs being operated by their companies.
"Confidence in the ability to access capital has grown steadily over the past year, allowing management teams to advance discovery and development plans," Charles Dewhurst, partner and practice leader in the Natural Resources industry group at BDO, said in a statement. "This confidence has led to a notable uptick in investor interest, particularly with private equity investment in the oil and gas industry."
Brent crude oil futures have shown substantial instability this year, spiking above $120 per barrel and falling below $100 per barrel, and volatility remained a primary concern for many executives, but oil prices remain high nonetheless.
Regular updates on oil production outlooks can be found at PennEnergy's Research area.