
Jordan Soto, executive producer, Hart Energy: Some say that the energy industry is entering into unprecedented times with consolidation like the industry has never seen before.
This is your A&D Minute powered by BOK Financial Securities. Joining us is Derek Podhaizer, vice president of equity research for U.S. onshore energy services/geothermal at Barclays.
Derek, what's next for the North American shale and the energy industry as a whole? We've seen a lot of consolidation, particularly this last year. What's next?
Derek Podhaizer, vice president equity research of U.S. onshore energy services/geothermal, Barclays: Right, so I think what comes with the maturing U.S. shale cycle is the industrialization of U.S. shale, accelerated by continued consolidation on the E&Ps and the services. And I think having these bigger, well-capitalized, disciplined players that could answer the call on demand from the E&Ps as far as providing the appropriate scale to complete these larger projects—this is where you smooth out the cyclicality of oil and gas, the boom-bust cycles that we've seen in the past. And going forward, smoothing out those cycles to create better companies, better businesses, generating returns, expanding margins and returning cash back to shareholders, ultimately creates a more investible U.S. shale for the future.
JS: That's your A&D Minute with BOK Financial Securities.
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