Jeff Currie, the former head of commodities research at Goldman Sachs, has co-founded a new oil and gas company named 1947 Oil & Gas Plc. Currie, known for his influential views on energy markets, established the firm alongside Ivan Murphy, a natural resources investor and former director at Cove Energy Plc. The new company has already completed its first significant transaction, agreeing to acquire Renaissance Offshore LLC, a small producer operating in the Gulf of Mexico, as announced in a statement on Friday, April 17, 2026.
Currie previously stated in February 2022 that he had never seen commodity markets pricing in such severe shortages, describing it as a "molecule crisis" across oil, gas, coal, copper, and aluminum. More recently, in May 2026, he asserted that the world is in the early stages of a commodity supercycle, potentially lasting another decade or more, driven by the artificial intelligence boom colliding with chronic underinvestment in energy and materials. He highlighted the energy sector as presenting "the biggest asymmetric trade in modern finance," with oil companies returning a 15.5% free cash flow yield, compared to hyperscalers which have none.
The co-founding of 1947 Oil & Gas Plc and its subsequent plan for an IPO signal Currie's direct engagement with the physical commodity markets he has long analyzed. This move aligns with his public pronouncements regarding the anticipated longevity and strength of the current commodity supercycle, particularly in the oil and gas sector. The acquisition of Renaissance Offshore LLC marks the initial step for 1947 Oil & Gas Plc in building its operational footprint before its public offering.
