Bankers see busy oil and gas deal outlook for ‘07

Investment bankers expect brisk deal activity in the energy sector in 2007, as high oil prices stir stiff competition for production reserves and as capital from private equity and hedge funds freely flows into the group.

Last year was a record year for the global utility and energy sector, as the value of deals soared more than 80 percent over 2005 to more than $357 billion, according to statistics from Dealogic.