Investment advisors report a growing trend among ultra-high-net-worth investors and family offices toward acquiring mineral rights and oil and gas assets, influenced by the ongoing energy pressures from the Iran war and the surge in artificial intelligence.
This renewed interest comes after a period where family offices capitalized on opportunities in the sector post-Covid, as traditional investors withdrew due to environmental concerns. According to Wood Mackenzie, oil and gas deal spending in the first half of 2026 reached a two-year high, particularly in gas production, which saw over $32 billion in deals—the highest in a decade.
Jeff Peterson, chief investment officer at Gillon Capital, noted that the market is currently favorable for sellers, with increased competition from institutional investors complicating the landscape. The volatility in commodity prices, with Brent crude fluctuating between $70.14 and $102 per barrel, adds to the challenges of making transactions.
As investors adopt a long-term perspective on energy demand, infrastructure investments like pipelines are gaining traction, although opportunities are limited due to permitting and construction complexities. Family offices are finding niches in smaller investments, often under $100 million, where competition is less fierce.
Peter Suberlak from Tolleson Wealth Management emphasized that clients are focusing on stable cash flows and inflation hedges rather than short-term price swings, preferring investments in mature fields with established production capabilities. This strategy allows for value creation over a longer investment horizon, reducing reliance on precise commodity price predictions