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Balch's David Bowsher Shares Insights on the Impact of the Ukraine Crisis on M&A Deals in the Oil & Gas Industry with Middle Market Growth
David Bowsher, partner in the firm's Birmingham and Houston offices and member of the firm’s Energy, M&A, and Creditor’s Rights & Bankruptcy Practices, was recently interviewed by Middle Market Growth on the impact of Russia’s invasion of Ukraine on M&A deals within the oil and gas industry. The article, published on March 17, 2022, explains that the crisis has introduced a new level of uncertainty causing some dealmakers to push pause.
David addresses how unpredictable the oil and gas industry has become for some dealmakers who were once willing to overlook volatility in pursuit of high-value transactions.
“Nobody expects that the current disruptions are going to last forever,” said David. “But it sure seems like there is potential for a long-term impact.”
According to Middle Market Growth, expecting the unexpected might be the best—and perhaps only—path forward for some players within the oil and gas arena. David added that, as a result, middle-market dealmakers interested in new oil and gas acquisitions may be pressing pause, with no clear view into how long that uncertainty will last.
The article goes on to explain that, despite the volatility and uncertainty, the outlook is not all negative for middle-market M&A activity across the oil and gas sector—especially if a deal was already in the works before Russia invaded Ukraine.
“It’s going to require a lot more intestinal fortitude on the part of the investors,” David said. “Perhaps more than they’re willing to give.”
A senior U.S. Department of Commerce official during President George W. Bush's Administration, David is now a member of the firm's Energy, M&A, and Creditors Rights & Bankruptcy practices. David has worked with oil and gas companies with operations in Texas and elsewhere; represented both buyers and sellers in middle-market M&A deals; and developed particular experience in §363 asset sales in bankruptcy cases. Additionally, David's extensive corporate and transactional experience includes securities offerings, financing transactions and capital raising efforts.
David serves in leadership roles in a number of professional groups, including as President-Elect of the Duke Law Alumni Association Board of Directors and President of the Republican National Lawyers Association. He has been recognized by Best Lawyers in America®, Super Lawyers and the Birmingham Business Journal.