Public E&P Model Broken, Private Equity Firm Says

摘要

The model for publicly-held oil and gas companies is broken, the head of a private equity firm told investors and financial analysts meeting in Calgary last week."We started Kern Energy Partners from the idea that public (capital) markets were broken because of (their) short-term attitude," Kern General Partner Pentti Karkkainen said, laying the blame in part on an E&P business model increasingly out of step with a longer oil and gas investment cycle in North America.