Oil and gas capital confidence barometer
Growth remains the number-one objective for a majority of our oil and gas companies, with 61% reporting that growth is their primary focus.
This is compared to 20% whose primary focus was on cost reduction and operational efficiency, and 17% whose focus was on maintaining stability. This is the highest percentage of respondents citing growth as their top priority since April 2011.
Percent of companies focused on growth
The companies focused on growth tend to prioritize lower-risk organic strategies that are within their comfort zone. Rather than pursuing ambitious, transformational deals, they are hoping to deliver growth through better execution in existing markets, developing new products and markets through the exploitation of technology, identifying new sales channels, and changing the current mix of products and services.
What is the primary focus of your company's organic growth?