New York Energy Capital Assembly 2025: Advisory Board Report

NYC – On February 25, 2025, the Energy Council Advisory Board convened in Manhattan ahead of the 2025 edition of the New York Energy Capital Assembly. Bringing together senior representatives across private equity, institutional investors, family offices, operators, and technology providers, the meeting explored capital allocation strategies in a volatile time for US energy. The seasoned group of investors and operators examined the latest regulatory outlook, challenges in capital-constrained conditions, seizing emerging growth opportunities, and strategies for navigating the uncertainty gripping capital markets. The Advisory Board Key Takeaways report provides a window into the latest strategic thinking driving US energy stakeholders’ investment strategies and is now available for download.

The dynamic and insightful discussion homed in on several key takeaways that reflect what’s really on the mind of US energy stakeholders in the current landscape. Returning capital and increasing barrels-per-day production combined with the administration’s deregulatory, drill-baby-drill approach to fossil means we can expect an investible climate for traditional energy. Closing critical infrastructure gaps through urgent investment to meet the anticipated power and gas demand spike driven by datacenters and AI. Are we seeing a cresting consolidation wave, with many supermajor acquisition targets now snapped up, or the beginnings of a consolidation tsunami, with as many energy IPOs so far in 2025 as 2024’s total? Has the energy transition slowed, stalled, or stopped altogether, and is sustainability still a priority for investors and operators across the US?

The report highlights the intersection of financial strategy, operational discipline, and the pursuit of sustainable returns in unstable times. Answers to these questions were debated candidly under the Chatham House Rule, providing a concise snapshot of how capital allocators and operators are approaching the next cycle.

Benchmark your own thinking against US energy’s market-movers and gain early insights into the topics that will define this year’s New York Energy Capital Assembly by downloading the full Key Takeaways report now.

The New York Energy Capital Assembly will return to the New York Stock Exchange on August 27 – 28. If you’d like to get involved, or have questions about our Advisory Boards, please get in touch with Luke Brett via [email protected].

This report summarizes the key findings from the assembly, taking expert insights from our panelists from Chevron, ConocoPhillips, Engine No.1, Kimmeridge Energy, Wincoram Asset Management, Schroders, Quantum Capital Group, Apogem Capital, BlackRock, EIG Global Energy Partners, Formentera Partners, Pickering Energy Partners, and many more.

Here's a sneak peak of some of the insights from our 2025 Advisory Board Report…

Capital Flows into Traditional Energy

Trade dynamics, a flurry of executive orders, and increasing demand are causing volatility in US markets. Despite this, the capital raising and project completion environments for traditional energy look to be rebounding from the instability of previous years.

While barrels-per-day production spiked up to record levels under the Biden administration, it's clear preference for long-term renewable growth and emissions management through legislation impacted investor sentiment toward traditional energy. Investors are now picking up on middle-market signals that capital is becoming available for traditional energy and profitability is expected in the medium-term. This is also reflected in public markets, with three energy IPOs launched as of February 2025 – half of 2024’s total of six, in just two months

Build Baby Build 

As the administration seeks to drive further domestic resource development, energy transportation, distribution, and grid infrastructure remain a growing concern. Grid operators like PJM are warning of a “continuing and rapid tightening” of power supplies

The Year Ahead in Consolidation

Despite a decline in merger value in Q4, M&A activity in US energy remained robust in 2024 with $105 billion in deals closed. Given this drop from peak deal value of $250 billion in 2023, and fewer supermajor targets available to merge, some wonder if the consolidation wave is cresting.

Supermajors, once thought to be at a disadvantage in shale, now have a proven track record of leveraging M&A to augment capabilities and acquire innovative technologies. Exxon’s $60 billion acquisition of Pioneer and Chevron’s $53 billion purchase of Hess, both in 2023, demonstrate a clear willingness to deploy capital in this manner. But major merge opportunities are declining as the sheer number of viable supermajor acquisition targets continues to shrink.

2025 Advisory Board Members: