Wall Street Funding Slowdown for Energy Continues with Q2 Capital Raised Via Public Equity & Debt Issues Off 36% YOY

Austin, TX (July 17, 2019) – Drillinginfo, the energy industry’s leading SaaS and data analytics company, released its Q2 2019 Capital Markets review revealing $16.9 billion in aggregate funds raised via energy industry public equity and debt offerings. The amount is down 36 percent from the same quarter a year ago, and down 23 percent from funds raised in Q1 2019. “These numbers understate how weak capital markets were for parts of the industry,” said Drillinginfo analyst Andrew Dittmar. “In a particularly poor showing, the upstream and oilfield service sectors combined to raise only $300 million from fresh equity, and $2.5 billion from bond issuances,” said Dittmar. On a bright note, the industry supported two initial public offerings that raised a combined $1.025 billion in Q2, almost double Q1’s $505 million. However, a once-probable IPO issue in midstream’s dynamic water management sub-sector was taken off the table when the Permian Basin-focused candidate withdrew its registration statement during the quarter, opting instead to fund privately with banks and an overseas sovereign fund. The data was compiled by Drillinginfo’s Capitalize platform, which tracks securities and credit activity of energy companies that file with the U.S. Securities and Exchange Commission, as well as private… continue reading

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Source: CTRM Center

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