V&E Partner Talks Permian Hiring
As long as oil prices remain strong and takeaway capacity exceeds production, producers will be hiring in the Permian Basin, according to John Grand, Vinson & Elkins (V&E) partner for mergers and acquisitions (M&A) and private equity.
“Employment follows drilling. The more operators are able/willing to drill, the more they will hire. We need fundamentals to be strong to support drilling,” Grand told Rigzone.
The V&E representative said capacity concerns are hurting differentials out of the basin at the moment but added that “it appears as though” additional capacity will start to come online in the near term.
“Fortunately, it appears as though additional capacity will start to come online in the near future to help alleviate the capacity constraints,” Grand told Rigzone.
“This capacity constraint hits on one of the larger points that has been suppressing M&A and capital markets activity in the Permian Basin as investors seem to be laser-focused this year on positive cashflow and less on growth,” he added.
Grand has worked on a wide array of transactions in the energy sector, including upstream and midstream joint ventures, upstream and midstream acquisitions and divestitures, investments in oil services companies, investments in mining companies and renewable energy transactions, according to V&E’s website.
Established in Houston in 1917, V&E is a “go-to” law firm for many of the world’s leading businesses, especially in the energy and finance industries, according to the company’s website.
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