The Fort #201: Conrad Gibbins - Managing Director at Jefferies - Energy Investment Banking - Deep Dive Into Current Energy Markets
Conrad Gibbins is a Managing Director of Jefferies, LLC in the Energy Investment Banking Group. Conrad has 12 years of investment banking experience advising primarily upstream oil and gas companies on M&A and financing transactions. Conrad has advised on over $40 Bn in upstream oil and gas M&A transactions and $15 Bn in financings and he has worked on many significant transactions in the upstream oil and gas industry including more than 10 M&A transactions with values over $1 Bn.
On this episode, Chris and Conrad discuss the world's reliance on fossil fuels, today and into the future and the current M&A and deal market in fossil fuels. They look into ESG and alternative energy opportunities. Conrad discusses how Russia / Ukraine is impacting the current environment and how the narrative around fossil fuels has changed since he started in 2009. Enjoy!
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(02:17) - How has the Oil industry changed over the past 12 years?
(8:18) - Why is capital fleeing the industry over the past several years?
(14:50) - How undercapitalized is the industry right now?
(19:27) - How much of the world is still in the process of getting onto fossil fuels and how much of the world is actually consuming 100 million barrels per day?
(22:36) - M&A Activity in Oil and Gas Over the Past Year
(26:52) - Is there positive momentum that capital is flowing back into the space?
(31:21) - Thoughts on ESG
(32:07) - Labor & Employment in Oilfield Services
(33:54) - Is the money that’s redirected away from Oil and Gas and into renewables been worth it?
(38:07) - Is there any bear case in the short term?
(40:06) - Is there any technology you’re seeing that could disrupt oil usage?
(42:18) - How is the Russia/Ukraine conflict impacting the world from an energy perspective?
(45:04) - How much does the world depend on Russia for oil?
(46:22) - Who’s the largest consumer of oil?
(46:48) - Thoughts on Nuclear
(50:39) - Are there any basins coming back online that have been hibernating?
(57:20) - Crypto in the Energy World
(59:33) - Conrad’s experience working with Aubrey McClendon
(1:01:59) - Final Thoughts
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