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摘要

Our Managing Partner David Baggett has a tradition of distilling his view on the year ahead into words like "scrappy" or "resilient" at our firm's annual meetings. Hindsight being 20/20, "perseverance" seems appropriate to describe the personal and professional hardships many felt during a difficult 2020. With most of 2021 in front of us, I feel strongly that "adapt" would be the right word to describe the year ahead. Coming out of the toughest commodity price environment in recent history, companies across the energy value chain will now be required to reinvent themselves if they hope to survive as the world changes around them. Competition for investment dollars now hinges on how well a company can demonstrate stewardship of environmental, social and governance(ESG) principles in operating their businesses.