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.

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