Family Offices Increase Interest in Oil and Gas Assets as Deal Spend Reaches Two-Year High

According to CNBC, ultra-high-net-worth investors and family offices are showing more interest in mineral rights and other oil and gas assets as energy pressures from the Iran war and the artificial-intelligence boom draw capital back into the sector. Wood Mackenzie said oil and gas deal spend in the first half of 2026 hit a two-year record, while gas production project deal spend topped $32 billion, the highest level in more than a decade. Jeff Peterson, chief investment officer of single-family office Gillon Capital, said it is a seller's market and noted that competition from institutional investors and private-equity firms, along with commodity-price volatility, has made deals harder to complete at attractive valuations. Brent crude has traded between $70.14 and $102 a barrel since the beginning of June, a spread of about 45%, and jumped almost 10% in a single session in July. Andrew Dock, head of energy wealth management for Bank of America, said investors are increasingly focused on infrastructure assets such as pipelines and export facilities, while Cody Carper of Baker Botts said family offices can still find opportunities in investments below $100 million. Peter Suberlak of Tolleson Wealth Management said clients are generally seeking inflation hedges and steadier cash flow rather than betting on price swings.