Daniel Katzenberg covers the E&P sector and says sentiment is improving. He says for E&P companies, what has helped the group is the balance sheet restructurings during 2016. What he is now seeing are capital market activities and equity offerings used for acreage. Mr. Katzenberg also says what is top of mind is rig count add, which has led to concerns from some investors that that might lead to oil service cost escalation. He thinks that there’s still enough excess capacity to continue to keep costs down for a bit longer. After being bearish for the last two years, Mr. Katzenberg is now recommending that investors increase their allocations, especially in oil-exposed equities.
Full interview available here.
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