Oil Rig in Texas with sunset in the background

Oil and gas survey reveals cautious optimism

LONDON, May 6, 2015 – Oil and gas executives maintain a sense of cautious optimism about prospects for the industry over the next year, according to a new survey by business services company EY.

Nearly every executive polled (99 percent) in EY’s May 2015 Oil and Gas Capital Confidence Barometer survey said they expect the market for oil and gas deals to improve or remain stable over the next year. EY polled 112 executives for the report. Only 34 percent said they see increased volatility in commodities and currencies as a major economic risk over the next year.

The survey indicated that priorities have shifted toward capital-raising activities, rather than investment. Of those polled, 94 percent said they were primarily focused on raising or optimising capital, rather than investing or simply preserving capital.

More than half (56 percent) of those polled said they expect their companies to actively seek out acquisitions in the next 12 months.