HOLT ON E&P

摘要

Maynard Holt, co-president of Houston-based investment bank Tudor, Pickering, Holt & Co., has noticed a phenomenon in E&P company valuation that is as interesting as it is counterintuitive. Single-basin, easily valued operators are trading at a premium to larger, multiple-basin companies. Holt thinks this will persist for a variety of reasons, impacting offerings, M&A and daily stock prices for some time to come.