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What’s Ahead for the Recovering Market?

Growth in the market will be much slower than the last upswing; most companies are going to remain cautious, even with a great deal of supply and if oil gets to $80/barrel, says McGee in this EXCLUSIVE.

Port of Houston Onshore exploration continues to put employment numbers in the positive column.

HOUSTON—There are continuing signs of recovery, with an oil and gas market on the mend, as evidenced during fourth quarter 2017. Although oil is currently far from its peak in 2014, key highlights of a recent Lee & Associates report show that a barrel of oil is in the low $60s, Baker Hughes’ North American rig count is at 929 (an increase of 259 total year-over-year growth), and onshore exploration continues to put employment numbers in the positive column with seven months of job growth in manufacturing (as of October 2017).

In this exclusive, Robert McGee, principal at Lee & Associates, recently discussed the improving market, stabilizing oil prices and the state of the market at year-end, given the new tax code and job growth.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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