Investment Banking

PEP’s investment banking team provides independent, strategic advice during our clients’ most important moments. We connect executive teams to the private and public capital markets, and we guide companies through a variety of transactions including M&A Advisory, Private Capital Raising, and Capital Markets Execution.

Meet our team

Recent Transactions

Capital Raisings

Public & Private market capital raising capabilities designed to deliver optimal capital solutions and bespoke partnership arrangements for the needs of our clients' businesses.

Contact the PEP Banking team
Get in touch

Mergers & Acquisitions

Corporate and asset-level transaction advisory services tailored specifically to our clients' strategic objectives. Our experienced team provides tireless, high-touch process execution and is dedicated to delivering successful outcomes.

Contact the PEP M&A team
Get in touch

Selected Areas of Focus

Traditional Energy
Upstream
Midstream
OFS
Integratives & Refining
Renewables
Transitional Energy
Low Carbon Energy & Fuels
Carbon Capture Utilization & Sequestration
Carbon Markets
Energy Storage
Grid Resiliency
Consulting

Latest Insights

February 2023 – Commentary from Dan Pickering
Two years into Value over Volume, most US upstream players have adopted similar mantras which de-emphasize production growth and have a strong commitment to returning capital to shareholders…
Dan Pickering
Pickering Energy Partners Acted as Co-Manager on Atlas Energy Solutions’ IPO
Pickering Energy Partners
SailingStone Fourth Quarter 2022 Commentary
In their fourth quarter commentary, the SailingStone team provides a recap of the four key themes they were focused on during 2022, how those themes have played out and the five themes they are watching for 2023.
MacKenzie Davis
Global Natural Resources Commentary Q1 2020
Each quarter, the Dallas Fed publishes a survey of U.S.E&P and oil service companies. While the data is informative, the “Comments” section is often more insightful. Amidst COVID-19 projections and calls for government intervention to “protect Americ
MacKenzie Davis
Global Natural Resources Commentary Q2 2020
The dislocations created by COVID-19 and the subsequent global economic shutdown have scarred countries and communities around the globe.
MacKenzie Davis
Global Natural Resources Commentary Q3 2020
The commodity markets continue to heal, despite an extremely volatile economic and geopolitical backdrop.
MacKenzie Davis
Global Natural Resources Commentary Q4 2020
Just over 25 years ago, Andy Pilara started a mutual fund that is the forebearer of the SailingStone Global Natural Resource strategy.
MacKenzie Davis
Global Natural Resources Commentary Q1 2021
Commodity markets continue to heal, as evidenced by falling inventories across most products.
MacKenzie Davis
20 Mins
November 2022 – Commentary from Dan Pickering
November was a generally sidewise month for energy while the S&P500 enjoyed a bear market rally...
Dan Pickering
5 minutes
Regaining Control of the Energy Narrative: The Top 15 Anticipated ESG-Related Considerations That Will Influence Strategy in 2023
Dan Romito
October 2022 – Commentary from Dan Pickering
Payback. October was a strong recovery month for risk assets, with energy extending its YTD outperformance. The energy environment remains s
Dan Pickering
10 mins
Pickering Energy Partners Expands Energy Transition Expertise with New Director of Technical Resources
Firm Helps Clients Determine Viability of Hydrogen and Other Carbon Mitigation Investments with Scientific Expertise
Dan Pickering
SailingStone Third Quarter 2022 Commentary
A lot has been written about inflation lately. And, while we are reluctant to add to the growing discourse on this topic, since much of it, unfortunately, has not been terribly additive to the existing understanding of the many factors that impact pr
Ken Settles
Dan Pickering Talks Oil Majors’ Earnings on CNBC
Dan Pickering joins CNBC’s Squawk Box Asia to discuss recent earnings announcements and what it means for the energy investment landscape.
Dan Pickering
September 2022 – Commentary from Dan Pickering
The world is as complicated and nuanced as we have seen in our career. On the macro front, we have global inflation, sticky US employment and a strong dollar, central banks raising rates around the world, the remnants of the pandemic in China, a Eur
Dan Pickering
Dan Pickering Weighs in on OPEC+ Production Cuts
Following the OPEC+ decision to cut oil production by 2 million barrels per day, Dan joins CNBC to discuss when and how this might affect the global energy market and U.S. consumers.
Dan Pickering
Dan Pickering Shares Energy Sector Outlook on CNBC
With OPEC+ scheduled to meet on Wednesday and consider a potential production cut, Dan Pickering discusses his predictions for energy inflation on CNBC’s Street Signs Asia.
Dan Pickering
MERGE Electric Fleet Solutions announces a new pilot program in the Permian Basin area
MERGE is launching pilot programs in the Permian - offering two Ford Lightnings for 31 days and a fleet assessment to oilpatch customers.
Dan Pickering
Dan Pickering Talks Energy Trends on CNBC
Amidst fears of a recession, Dan Pickering joins CNBC’s The Exchange to discuss what he has on his radar in the energy space – such as oil demand and prices, inventory data, and expectations for Europe.
Dan Pickering
Pickering Energy Partners Announces Energy Transition Advisory Board
Energy Transition Leaders to Provide Strategic Guidance, Insight and Ambassadorship
5 Mins
August 2022 – Commentary from Dan Pickering
August was anything but a boring summer month. The macro dance continued as the main driver of oil markets. US Federal Reserve Chairman Powell’s speech put a damper on sentiment and heightened fears of recession
Dan Pickering
5 Mins
Accelerating the Energy Transition Requires Bridge Building
“We will chase perfection, and we will chase it relentlessly, knowing all the while we can never attain it. But along the way, we shall catch excellence.” – Vince Lombardi
Dan Romito
12 Minx
Dan Pickering Weighs in on the European Energy Crisis
Dan Pickering joins CNBC’s The Exchange – along with Rapidan Energy Group’s Bob McNally – to share his take on Russian sanctions on European energy supplies and what it means for the global energy landscape.
Dan Pickering
SAILINGSTONE SHALE 2.0 Happy Five-Year Anniversary
Happy anniversary from us at SailingStone!
Ken Settles
15 Mins
Dan Pickering Discusses Oil Markets on CNBC
In light of OPEC+’s recent decision to implement a small production cut, Dan Pickering joins CNBC’s Street Signs Asia to share his thoughts on oil price caps, supply and demand trends, and his predictions on Russia.
Dan Pickering
SailingStone Applauds Turquoise Hill Response to Rio Tinto’s Offer
In their second open letter to TRQ Independent Directors this year, SailingStone applauds their decision to reject Rio Tinto’s offer highlighting long-time concerns of minority owners.
MacKenzie Davis
Dan Pickering Talks Clean Energy on CNBC
Reflecting on the recent passage of the Inflation Reduction Act, Dan Pickering joins CNBC’s Worldwide Exchange to discuss what the legislation will mean for the clean energy landscape and for renewable energy investors.
Dan Pickering
SailingStone Statement on Turquoise Hill Special Committee Approval of Rio Tinto Offer
Latest Rio Tinto Offer Remains Disappointing to Minority Shareholders
MacKenzie Davis
Dan Pickering Discusses Global Oil Market on CNBC
In light of OPEC+ agreeing to a small increase to its oil output, Dan Pickering joins CNBC Asia to share his thoughts. He predicts that this will be a drop in the bucket in the global market and that we’ll be focused instead on the economy in recessi
Dan Pickering
July 2022 – Commentary from Dan Pickering
Better. July saw a bounce in risk assets with the S&P500 jumping +9.1% and energy generally outperforming. There were no particular fundamental epiphanies in the crude oil markets during July. The commodity traded in line with other risk assets, gene
Dan Pickering
Global Natural Resources and Energy Transition Q2 2022
As we have discussed for the past few quarters, rising rates, base effects, and far more persistent inflationary headwinds – the hangover from super stimulated monetary conditions post-COVID – are pressuring global economic activity and with it, asse
MacKenzie Davis
15 Mins
Dan Pickering Weighs in on Oil and Natural Gas Prices
Looking at the U.S. compared to Europe, Dan Pickering discusses the current market’s impact on natural gas and oil prices. He predicts that gas likely has more favorable 15-year trends, but that both oil and gas stocks make sense in the near term. Wa
Dan Pickering
Pickering Energy Partners Announces Strategic Partnership to Acquire and Develop Permian Oil and Gas Assets
Over the next two years, PEP Development will focus on deploying at least $300 million of equity capital alongside highly experienced public and private operating companies in the Permian Basin.
Dan Pickering
10 Mins
June 2022 – Commentary from Dan Pickering
Well, that deteriorated quickly. June was a terrible month for energy stocks. While the S&P 500 was dismal at -8.4%, energy was worse with Diversified Energy dropping -17.4% (S&P 1500 Energy, S15ENRS). When parsing through the events of June, it is l
Dan Pickering
Dan Pickering Talks Biden’s Proposal to Suspend the Federal Gas Tax
In light of President Biden’s proposal to suspend the federal gas tax for 90 days, Dan Pickering joins CNBC’s Power Lunch – alongside ClearView Energy’s Kevin Book – to share his thoughts about global supply and demand and potential impacts on gasoli
Dan Pickering
The Path to TCFD Implementation for Energy Companies
In March 2022, the SEC proposed rules to enhance and standardize climate-related disclosures to investors. The proposal modeled recommendations off TCFD, lending regulatory firepower to the framework.
Addison Holmes
15 Mins
Dan Pickering Joins CNBC to Discuss Gas Prices and Energy Stocks
In his latest thoughts on gas prices, Dan Pickering predicts that even if oil prices continue to go up, it’s unlikely that we’ll see gasoline prices push upward at the same pace. Watch the full CNBC interview for his take on China’s impact on the oil
Dan Pickering
May 2022 – Commentary from Dan Pickering
If it ain’t broke, don’t fix it. May 2022 was another excellent month for energy. The S&P 500 was dead flat for the month (+0.0%), while Diversified Energy added +14.8% (S&P 1500 Energy, S15ENRS).
Dan Pickering
Dan Pickering Talks Russia’s Declining Relevance to OPEC
As Europe and the rest of the world sanction Russia, Dan Pickering predicts that we’ll see countries like Saudi Arabia and the UAE start to step up. Watch for his take on demand destruction and the Biden Administration’s trip to Saudi Arabia on CNBC.
Dan Pickering
Dan Pickering Discusses High Gas Prices on CNBC
As the energy industry continues to see high demand and tight supply markets, at what point do we reach demand destruction? Dan Pickering shares his thoughts about natural gas prices with Kelly Evans on CNBC’s The Exchange.
Dan Pickering
Global Natural Resources and Energy Transition Q1 2022
Increased awareness of the constraints and physical realities of our collective efforts to both expand and decarbonize the world’s energy systems is a prerequisite to creating the policy and investment climate necessary for success. The next step is
MacKenzie Davis
Dan Pickering Talks Energy Security and Pricing Volatility on CNBC
The Biden Administration must balance energy security amid the war in Ukraine while lowering gas prices before midterm elections. How will their decisions impact the market this year and beyond? Watch Dan Pickering on CNBC to get his take.
Dan Pickering
Dan Pickering Predicts Impact of Biden's SPR Release
Dan Pickering
March 2022 – Commentary from Dan Pickering
Newton’s First Law of Motion says an object in motion tends to stay in motion, unless acted on by a force. There were many forces in the energy markets during March 2022, but energy stocks clearly stayed in motion.
Dan Pickering
15 Mins
An Open Letter from SailingStone Capital Partners to Turquoise Hill’s Independent Directors
Houston, Texas, March 15, 2022 (BusinessWire) – SailingStone Capital Partners, a long-time owner of Turquoise Hill Resources Ltd. (TSX:TRQ) (NYSE:TRQ), has delivered the attached letter to the Turquoise Hill Independent Directors.
MacKenzie Davis
Dan Pickering Joins CNBC to Discuss Record-Breaking Release of Oil Reserves
The United States is looking to draw a record amount of oil from emergency reserves. How will this affect demand – and how are investors responding? Dan Pickering discusses his predictions on CNBC’s The Exchange with Kelly Evans.
Dan Pickering
Dan Pickering Explores Oil Supply Disruption on CNBC
On CNBC’s Market Rally, Dan Pickering discusses what he calls “normal volatility in a very abnormal time.” Watch for his take on the need for more trustworthy oil sources in the next three to five years.
Dan Pickering
The Case for Capital Discipline... And Sound Energy Policy
Commodity price spikes are almost always the result of supply shocks that are caused by geopolitical events (i.e. – wars and trade wars) or natural disasters. They are, in a word, unsustainable.
MacKenzie Davis
Dan Pickering Sets Expectations for Solutions to Oil Price Increases
Facing energy insecurity and high oil prices, the U.S. weighs solutions while geopolitical tensions rise. Dan Pickering joins Sonali Basak on Bloomberg to discuss what it’ll take for the U.S. to offset global dependence on Russia’s oil supply.
Dan Pickering
February 2022 - Commentary From Dan Pickering
February was a good month for energy stocks, but most importantly, it will wind up being viewed as strategically significant for energy markets and energy investors.
Dan Pickering
Russian/Ukrainian Conflict and the Market Impact | Commentary from Dan Pickering
How will the Russian/Ukrainian conflict affect the energy market?
Dan Pickering
Energy Transition Implications from the Russian/Ukrainian Conflict
recent events increase the likelihood of stagflation, an outcome we believed was already probable given the consequences of prolonged capital constraints on new supply, the material requirements of the Energy Transition and the post-stimulus hangover
MacKenzie Davis
Dan Pickering Talks Oil Prices Amid Russia-Ukraine Tension
Dan Pickering joins Kelly Evans on CNBC’s The Exchange to discuss what the turmoil in Russia and the Ukraine mean for oil prices in the near- and long-term – and what the situation teaches us about the fragility of the hydrocarbon ecosystem.
Dan Pickering
2021-2022 PEP Macro Outlook from Dan Pickering
2021-2022 Summary
Dan Pickering
January 2022 - Monthly Commentary from Dan Pickering
Thinking about stocks, the chickens came home to roost in January. Rising interest rates and tightening commentary from the Federal Reserve sparked a meaningful downdraft by the major stock indices.
Dan Pickering
Pickering Energy Partners Launches Energy Transition Advisory
Pickering Energy Partners (PEP), a Houston-based energy financial services firm, recently launched its Energy Transition Advisory practice, which will build upon the momentum of PEP’s other offerings – including the growing market intelligence busine
Pickering Energy Partners
Top ESG Considerations for 2022
The ESG journey is difficult to navigate and is becoming increasingly complex. This complexity has now crept into the entire spectrum of the capital markets and influences access to new investors, but maintenance of existing as well.
Dan Romito
Dan Pickering Advises Oil Stocks to Watch on CNBC's The Exchange
Oil stocks are up more than 15 percent. Dan Pickering covers the best stocks to keep an eye on right now – and why he predicts demand will improve – with Kelly Evans on CNBC’s The Exchange.
Dan Pickering
Renewable Constraints
We cannot wait until the world’s economy is powered entirely by renewables, if that is even possible; we need to mitigate greenhouse gas emissions right now.
Ken Settles
Global Natural Resources Q4 2021
2021 has been a remarkable year for all things Energy Transition. There has been a litany of promising advancements in areas such as grid-scale energy storage systems (“ESS”) and EV penetration rates which are running well ahead of even the most aggr
MacKenzie Davis
December 2021 - Monthly Commentary from Dan Pickering
December was an OK finish to a very good year.
Dan Pickering
Dan Pickering Discusses Oil Supply and Demand on CNBC
Dan Pickering joins Brian Sullivan on CNBC’s The Exchange to discuss the implications of the recent rise in oil prices. Despite increased concerns around impacts from the energy transition, economy and policy outcomes, Dan anticipates oil demand imp
Dan Pickering
Pickering Energy Partners Hires Jason Martinez to Lead Energy Transition Advisory Practice
Martinez brings more than 25 years of energy industry experience to Energy Transition Advisory.
Merge Completes Series A Funding, Continuing Pickering Energy Partners’ Leadership in Energy Transition
Series A financing to accelerate market growth for PEP-backed fleet electrification solutions firm.
Dan Pickering
November 2021 - Monthly Commentary from Dan Pickering
November was generally a bust across the market, but energy was worse.
Dan Pickering
October 2021 - Monthly Commentary from Dan Pickering
Decent back-to-back months. October was another good period for energy.
Dan Pickering
Inconvenient Truths
An analysis of the real-world implications of the Energy Transition with a focus on the opportunities and challenges facing capital allocators and policy makers.
MacKenzie Davis
20 Mins
September 2021 - Monthly Commentary from Dan Pickering
A September to remember. Energy had a strong month while overall markets were lackluster/weak.
Dan Pickering
August 2021 - Monthly Commentary from Dan Pickering
August was a flattish month overall for energy, but there was plenty of activity beneath the surface.
Dan Pickering
Global Natural Resources Commentary Q2 2021
MacKenzie Davis
Inflation & The Energy Transition
The COVID pandemic, and the response of governments and central banks around the world, have engendered an on-going debate about the outlook for inflation. Transitory or perhaps a bit stickier?
Ken Settles
June 2021 - Monthly Commentary from Dan Pickering
June was another solid month for the stock market, the oil market, the gas market and energy stocks.
Dan Pickering
May 2021 - Monthly Commentary from Dan Pickering
Evidently the oilpatch loves “May flowers” as all energy indices meaningfully outpaced the S&P500 during the month.
Dan Pickering
10 Mins
April 2021 - Monthly Commentary from Dan Pickering
Energy was flat/mixed during April.
Dan Pickering
10 Mins
March 2021 - Monthly Commentary from Dan Pickering
After a very strong February, energy mostly scratched out additional gains in March.
Dan Pickering
January 2021 - Monthly Commentary from Dan Pickering
After years in the doghouse, energy has been leading the stock market for the past few months.
Dan Pickering
July 2021 - Monthly Commentary from Dan Pickering
July was a soggy month for energy.
Dan Pickering
New Year, New Outlook
Today’s environment brings unprecedented complexity to the energy markets. While volatility is par for the course in the energy industry, 2020 showed us just how tumultuous the market could be.
Connecting the Dots: Breaking the ESG Code
The pursuit of long-term capital can often feel like a continual attempt at deciphering a never-ending array of complex codes.
Dan Romito
15 Mins
Pickering Energy Partners, Heikkinen Energy Advisors Merge to Form PEP Insights
Pickering Energy Partners (PEP), a Houston-based energy financial services firm, today announced a merger with Heikkinen Energy Advisors
Dan Pickering
5 Mins
The Rise Of The EV
EVs are taking over the roads, and they are here to stay. What started as a market for early adopters and technophiles has transitioned to mass adoption from businesses and the general public.
Pickering Energy Partners
5 Mins
Are We in an Energy Transition?
Today, we’re improving, expanding, and redefining the way that we power our world through energy. Our ever-evolving relationship with energy spans millions of years and our society will always look for ways to maximize resources and energy outputs. W
Pickering Energy Partners
View All

Stay up to date with the latest news

Subscribe
PEP ADVISORY LLC IS A REGISTERED BROKER-DEALER, MEMBER FINRA/SIPC. PEP ADVISORY IS ALSO A MEMBER OF THE SECURITIES INVESTOR PROTECTION CORPORATION (SIPC). YOU MAY OBTAIN INFORMATION ABOUT SIPC, INCLUDING THE SIPC BROCHURE, BY CONTACTING SIPC AT (202) 371-8300. MORE INFORMATION IS AVAILABLE AT BROKERCHECK.

DISCLAIMER: THE INFORMATION CONTAINED IN THIS WEBSITE IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED, AND SHOULD NOT BE USED OR CONSTRUED, AS AN OFFER TO SELL, OR A SOLICITATION OF ANY OFFER TO BUY, ANY SECURITY. NO SUCH OFFER OR SOLICITATION MAY BE MADE PRIOR TO THE DELIVERY OF DEFINITIVE OFFERING DOCUMENTATION. THE INFORMATION IN THIS WEBSITE IS NOT INTENDED AND SHOULD NOT BE CONSTRUED AS INVESTMENT, FINANCIAL OR OTHER ADVICE.
Menu
HomePEP TeamPEP LibraryEventsAbout Contact
Divisions
Private EquityPublic EquitySailingStoneInvestment BankingConsultingResearch
Terms
BCP DisclosurePrivacy Disclosure StatementResearch Disclosures
© Pickering Energy Partners