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Houston-based Investment Firm Focused on Publicly Traded Energy Equities. Read our latest insights on the energy space:
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Jul 27 21 tweets 7 min read
Oil is in demand and on sale. Oil prices and equities are down significantly from their highs, despite strong demand, limited supply, and low valuations. Recession fears are overwhelming positive indications of a tight oil market and compelling investment opportunities.🧵 (1/20) Many observe market price movements and use them to filter and interpret fundamentals: price drives narrative. We have an alternative approach—focusing on fundamentals, “looking through” price movements and sentiment—and finding opportunity amid market turbulence.
Jul 8 6 tweets 2 min read
OPEC+ oil production update. Still substantial deviation from output targets Total oil production in June for OPEC+ countries (excluding the OPEC exempt) was 38.11, falling short of the 40.81 quota by 2.70 MM bbl/d

OPEC 13 production increased by 0.51
Jun 21 25 tweets 8 min read
Warren Buffett is buying #oil stocks: He recently revealed purchases of $26B of $cvx and $oxy. Below an analysis of Warren Buffett's history with oil and gas investments, and why recent purchases may indicate the best is yet to come for oil and gas equities. 🧵 Image (1/24) Buffett’s recent purchases of major stakes in oil and gas companies are an indicator of his optimism for the sector. General sentiment and positioning in oil and gas has lagged, as indicated by energy’s small portion of the overall equity market versus historical levels: Image
Jun 14 7 tweets 2 min read
OPEC+ missed their #oil output target even more in May. Short thread with charts. 🧵 This was the worst month for OPEC+ since we started sharing comments on this. Highlights (all in MM bbl/d):
May 16 9 tweets 3 min read
In the Golden Age of Oil and Gas Producers, one group stands out as particularly attractive for prospective investment: small cap oil and gas producers (E&Ps). A thread on valuation dislocations in small cap E&Ps and the associated investment opportunity.🧵 (1/8) Share prices for small cap E&Ps have languished vs. large cap E&Ps (XLE) and the broader market (SPY) since the last oil cycle high in 2014, despite improving fundamentals in line with their large cap counterparts: Image
Apr 18 14 tweets 7 min read
Business has never been better for oil and gas producers.

Here's why share prices can move even higher from here, in this Golden Age of Oil and Gas Producers 🧵 (1/13) Improving fundamentals have renewed interest in oil and gas equities, and a once left-for-dead sector is seeing share prices rising. Yet even with recent outperformance, there's room to run as oil equities catch up to Oil and the broader market:
Jan 18 20 tweets 7 min read
DUC Dilemma & 2022 Oil Market Outlook: A Thread

Despite the run-up in energy prices over the last year, we’re likely in the early innings of an o&g bull market. Here’s why we think 2022 could be another stellar year for oil and gas equities 🧵 (1/19) #Oil prices are moderate when benchmarked against #CPI #inflation, which may be understated Image
Dec 20, 2021 21 tweets 8 min read
On buying the oil dip. While many are calling for the end of the oil and gas bull market, or attempting to time the market, we embrace this volatility and continue to buy discounted shares. A thread 🧵 (1/x) The recent pullback kicked off with the announcement of the novel “Omicron” variant. This started sentiment-driven, as with a lack of concrete data at the time of announcement, it was up to investors imaginations to forecast potential market impacts of spiking case counts
Dec 8, 2021 6 tweets 3 min read
News about Kuwait struggling to raise production just hit the wire. Just in time for our OPEC+ compliance scorecard for November! OPEC+ under-produced their quota again in November #oott #oil #opec
Nov 25, 2021 18 tweets 6 min read
Winter is (almost) here! Time for another energy crisis thread. Record power prices, coal and natural gas shortages (and even ration cards!), what else will unfold? 🧵 First up, surging Nordic power prices hit all time highs
Oct 17, 2021 60 tweets 22 min read
This is an ongoing thread about the global energy crisis. As the crisis unfolds, we will update here. Today, a Financial Times @FT article reports on China's electricity crisis further disrupting the global supply chain h/t @JKempEnergy…
Sep 21, 2021 14 tweets 4 min read
As energy prices rise around the world, many continue to downplay the possibility of a global energy supply crisis, citing OPEC+ spare capacity available to come back online. But does OPEC+ really have as much spare capacity as advertised?

Thread below👇 Due to a lack of reliable data, many industry experts and analytics firms have adopted OPEC+’s self- reported numbers. The EIA estimates that OPEC+ has 6.9MM bbl/d of spare capacity, yet no one knows if this is accurate, and few seem to care. (1/12)
Jul 9, 2021 21 tweets 5 min read
Forecasts from large investment banks have been increasingly bullish on oil lately, with Goldman Sachs and Bank of America calling for $80-$100 oil prices recently. What changed between last years oil price crash and today? Thread below 👇 🛢🧵 One of the major reasons that the narrative on crude oil has become more bullish is that the latest reports on crude inventories show a rapidly tightening market, well beyond prior expectations. (1/19)