"The Fed's findings track what we are seeing here at Capital Alliance Corp.," said Paul Puri, managing director and chief development officer (cadallas.com). "We've witnessed an uptick in merger-and-acquisition interest from the oil patch, which indicates strengthening fundamentals that are bringing companies back to the bargaining table."
Oil & gas business activity increased during the third quarter, according to the Fed's survey, which measures conditions in the 11th District, which includes Texas, southern New Mexico and northern Louisiana.
While oil & gas production declined for the third straight quarter, its rate of decline slowed, according to the survey, while capital spending increased during the same time period.
Respondents to the survey continue to be bullish on the six-month outlook for the oil & gas sector, with almost 62% saying they think the price of oil will be higher in six months.
About Capital Alliance Corp.
Capital Alliance Corp. is a global mid-market investment banking firm, providing consulting services for mergers and acquisitions. The company represents client companies in a variety of markets, including energy, technology, construction and engineering, manufacturing and business services. Since its founding in 1976, the privately held firm has completed more than 200 transactions with an aggregate transaction value in excess of $3 billion. For three decades, Capital Alliance has been a member of M&A International, a membership organization of investment banking firms operating in the major economies of the world.
Capital Alliance Corporation
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SOURCE Capital Alliance Corp.