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Derek P. Smith
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  3. Professionals

Derek P. Smith

Senior Financial Analyst

Derek Smith is a senior financial analyst with Mercer Capital. He has valuation experience in engagements related to corporate planning and reorganizations, financial reporting, fairness opinions, litigation support, employee stock ownership plans, and estate and gift tax planning and compliance matters.

As a member of Mercer Capital’s Family Business Advisory Services Group, Derek provides financial education, valuation, and other strategic financial consulting to multi-generation family businesses. The Family Business Advisory Services Group helps family shareholders, boards, and management teams align their perspectives on the financial realities, needs, and opportunities of the business.

Derek is also a member of the firm’s Oil & Gas Industry team. As a part of the Oil & Gas Industry team, he provides content for the Energy Valuation Insights blog and quarterly newsletter.

Education

  • Louisiana State University, Baton Rouge, Louisiana (B.S., Finance, 2018)

Authored Content

EP Fourth Quarter 2025 Haynesville
E&P Fourth Quarter 2025

Region Focus: Hanyesville Shale

The Haynesville demonstrated resilient performance in 2025, with production growth outpacing peer basins despite pronounced month-to-month volatility. Output gains were supported by efficiency improvements and DUC drawdowns, even as rig activity, while rebounding meaningfully from interim lows, remained well below prior cycle peaks. Natural gas front-month futures pricing provided episodic support for activity, with seasonal demand and tightening balances driving a late-year rally after summer weakness.
Themes from Q3 2025 Earnings Calls
Themes from Q3 2025 Earnings Calls
Third-quarter commentary from E&P and oilfield service companies highlighted a cautious near-term outlook paired with growing confidence in long-term demand. While operators remain in “maintenance mode,” structural growth themes—LNG, data centers, offshore development, and water midstream—continue to shape strategy. Despite softer activity, companies emphasized free cash flow, efficiency, and positioning for stronger demand later in the decade.
Themes from Q2 2025 Earnings Calls
Themes from Q2 2025 Earnings Calls

Disciplined Capital Allocation Meets International Opportunity Amid Domestic Uncertainty

The second quarter of 2025 brought no shortage of talking points across both oilfield services (“OFS”) providers and exploration and production (“E&P”) companies. Management teams faced questions on market softness, capital discipline, and whether the long-awaited offshore and international upcycle has truly taken hold. Some leaned into shareholder returns and consolidation, others stressed patience in a choppy pricing environment, and nearly all pointed to selective opportunities abroad as a counterweight to domestic headwinds.
Capital Shifts and LNG Lifts
Capital Shifts and LNG Lifts

Takeaways from the 2025 Hart Energy Capital Conference

The energy industry is at a critical point, where producers must not only meet the ever-growing global energy demand resulting from population growth, industrialization, and the increasing electrification of uses, but also adapt to ever-changing environmental regulations and shifting societal expectations related to sustainable practices.
EP Third Quarter 2025 Appalachia
E&P Third Quarter 2025

Region Focus: Appalachia

Appalachia // The Appalachian basin enters late-2025 on firmer footing than a year ago, characterized by stable production, recovering equity performance, and improving infrastructure fundamentals
EP Second Quarter 2025 Permian
E&P Second Quarter 2025

Region Focus: Permian

Permian // The Permian basin continues to serve as the centerpiece of the U.S. shale revolution.
Key Components in a Typical Oil & Gas Lease
Key Components in a Typical Oil & Gas Lease
When negotiating and drafting oil and gas leases, understanding the basic framework that governs these agreements is essential. While there is no true “standard” lease, the primary areas and considerations of an oil and gas lease are discussed in this post.
Themes from Q4 Earnings Calls
Themes from Q4 2024 Earnings Calls

Upstream (E&P) and Oilfield Service (“OFS”) Companies

Companies are evaluating the trade-offs between optimizing existing assets and pursuing mergers and acquisitions. Capital allocation remains a focal point, with an emphasis on debt reduction and shareholder returns. Additionally, firms are positioning themselves to navigate evolving market conditions, ready to capitalize on emerging opportunities. This analysis offers valuable insight into the strategies industry leaders are employing for the future.
EP First Quarter 2025 Eagle Ford
E&P First Quarter 2025

Region Focus: Eagle Ford

Eagle Ford // Despite a notable rig count decline, Eagle Ford production generally remained about flat over the twelve months ended March 2025.
What’s “Play”-ing in the DJ Basin?
What’s “Play”-ing in the DJ Basin?

An Introduction to the Denver-Julesburg Basin

The Denver-Julesburg (“DJ”) Basin is a vast and geologically complex basin marked by sedimentary layering, tectonic shifts, and hydrocarbon generation. Encompassing an area of approximately 20,000 square miles, it stretches across regions of Colorado, Wyoming, Nebraska, and Kansas. Notable within the basin are various fields and geological formations, including the Wattenberg Field, Niobrara, Codell, Greenhorn, Adena Field, Hereford area, and the Redtail Field area.
Themes from Q1 2024 Energy Earnings Calls
Themes from Q1 2024 Energy Earnings Calls

Upstream (E&P) and Oilfield Service (“OFS”) Companies

In our prior earnings call post, Themes from Q4 2023 Energy Earnings Calls, we touched on the global focus that both the Upstream and OFS segments had focused on and the persistent drive to optimize efficiency in well operations and services with technological advancements, durable inventory, and more. This week, we explore the Q1 2024 earnings calls of upstream and OFS companies, highlighting the appearance of this quarter’s themes across the entire sector.
The Beginning of a Bakken Behemoth
The Beginning of a Bakken Behemoth

Chord Energy and Enerplus

In a significant development for the energy industry, on February 21, 2024, Chord Energy Corporation and Enerplus Corporation announced a definitive agreement to merge. This strategic combination aims to create a powerhouse in the Williston Basin, leveraging their complementary strengths and operational expertise.
Themes from Q4 2023 Energy Earnings Calls
Themes from Q4 2023 Energy Earnings Calls

Upstream (E&P) and Oilfield Service (“OFS”) Companies

This week, we delve into the Q4 2023 earnings calls of upstream and OFS companies, underscoring the consistent emergence of these themes across the entire sector.
Themes from Q3 Energy Earnings Calls-Part 2: Oilfield Service Companies
Themes from Q3 2023 Energy Earnings Calls

Part 2: Oilfield Service (“OFS”) Companies

In our most recent earnings call blog post, Themes from Q3 2023 Earnings Calls, Part 1 Upstream, prevalent themes from E&P companies included discussions about consolidation in the industry, a focus on efficiency of operations, and strong production volumes throughout 2023. This week, we focus on the key takeaways from OFS operators’ Q3 2023 earnings call.
Themes from Q2 2023 Energy Earnings Calls-Part 2: Oilfield Service Companies
Themes from Q2 2023 Earnings Calls

Part 2: Oilfield Service (“OFS”) Companies

This week, we focus on the key takeaways from OFS operators’ Q2 2023 earnings call.
IRS Valuation Guidance
IRS Valuation Guidance

Mines, Oil and Gas Wells, & Other Natural Deposits

In this blog post, we discuss portions of Treasury Regulation 1.611 and its additional guidance when determining the fair market value of mineral properties.
Themes from Q4 2022 Energy Earnings Calls-Part 2: Oilfield Service Companies
Themes from Q4 2022 Earnings Calls

Part 2: Oilfield Service Companies

The common themes among E&P operators and mineral aggregators’ in the Q3 2022 upstream earning calls included expanding business segments internationally, long-term sustainable growth for OFS, and production growth plans. In our most recent blog post, Themes from Q4 2022 Earnings Calls, Part 1 Upstream, prevalent themes from E&P companies included dividend distribution, organic growth, and management optimism regardless of upcoming economic challenges. This week we focus on the key takeaways from oilfield service operators’ Q4 2022 earnings call.