- Chris Petersen
- Editor's Blog
Until recently, the international oil & gas industry enjoyed unprecedented growth and prosperity in the global market. The North American energy renaissance allowed U.S. and Canadian producers to become forceful contenders in the market, putting OPEC's stronghold on the industry to the test. Amid these boom times, middle market exploration and production (E&P) companies have been among the greatest beneficiaries of the market shift, successfully exploiting new resources and capitalizing on global demand for inexpensive energy supplies, according to BDO's inaugural 2015 Global Energy Middle Market Monitor. Our study found that middle market E&P companies saw significant growth in their median daily production between 2012 and 2014, increasing by 50 percent. At the same time, median yearly revenue roughly doubled, skyrocketing from $78 million in 2012 to $152 million by the end of 2014.