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Industry Briefs

Despite having the funds to operate through Friday, the Department of Energy's Energy Information Administration (EIA) and the National Association of State Energy Officials have postponed the 2013-2014 Winter Fuels Outlook Conference Tuesday at the National Press Club in Washington, DC. EIA's Winter Fuels Outlook will be included in the October 2013 Short-Term Energy Outlook, which will be released at 10:00 a.m. Tuesday.

A recent survey of more than 750 U.S. and international industry executives found that 16% of respondents have contemplated a corporate restructuring during the last two years. Among oilfield services companies, the rate was 27%, followed by downstream (23%), midstream, (23%), upstream (15%) and integrated operators (12%), according to the survey, which was conducted in the final week of September by UHY LLP Certified Public Accountants and PennWell Publishing's Oil & Gas Financial Journal. Almost half (46%) of executives whose companies did move to different structures reported the reason was to make the company more attractive to potential investors, while (26%) cited a need to improve employee or management incentives, 21% to improve marketplace perception (21%), and 20% to take advantage of market timing (20%). The primary reasons companies gave for choosing not to change structures were lack of appeal to the investment market (40%) and the cost or difficulty of making a structural change (34%).

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