The number of MLPs will increase, according to 88.5% of respondents informally polled at Ernst & Young's Energy Executive Insight session in Houston recently.

The findings are based on responses from senior financial executives from various Houston-based energy companies, the majority of which are in E&P.

In other findings, half the group believes private-equity investment would result in more development of unconventional reserves and 46% expect it to result in increased competition for a limited amount of traditional reserves. Meanwhile, 34% expect private equity to drive up finding and development costs, due to increased competition for equipment and personnel. Some 15% believe private investment could lead to higher oil prices.

While 65% of respondents are planning to increase global activity in the next 24 months, 73% report it won't be in the Canadian oil sands. Some 57% plan to increase activity with national oil companies.

When asked about energy policy, half of the respondents expect to redirect investments outside of the U.S. in response to a windfall-profits tax. Nearly 40% expect such a tax to result in reduced U.S. production.

A group majority ranked environmental compliance as the greatest regulatory challenge. Other concerns include tax planning and compliance (34%) and SEC rules on reserves reporting (23%).

Meanwhile, 20% of respondents are concerned with a recent proposal that U.S. companies adapt the international financial reporting standard. Such standards, already in place in Europe, would create one set of accounting rules for global operations, which would be a major shift away from U.S. GAAP. The SEC is considering this.

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