Tuesday, September 25, 2012
North Texas Private Investment in Q2
"It's all ball bearings nowadays." - Irwin M. "Fletch" Fletcher as airplane technician, Gordon Liddy.
"It's all energy nowadays." - Me.
I couldn't hep but think of Chevy Chase's classic movie line when I reviewed the Dallas Business Journal's Private Investment Survey for the second fiscal quarter of 2012. The survey shows total private investment in North Texas of $1.24 billion for Q2, of which $1.13 billion was raised by Venari Resources LLC, an oil exploration firm. Of the remaining $120 million of private investment, $53.7 million went to other energy-related companies.
So by my calculations, 95% of the private equity raised in North Texas in Q2 went to into the energy sector. So maybe it's not all energy nowadays, but it's pretty darn close.
By the way, I learned last week that Burton "Bubba" Gilliam, the actor that played Bud opposite Chevy Chase in the scene quoted above, is a fellow resident of North Texas. Since he's one of my favorite actors, I thought that was pretty cool.