Devon Energy: Oops!… I Did It Again

By Paul Sankey Published on July 9, 2024 at 9:27 AM

Devon buys GME! Gamestop? No, Grayson Mills Energy. To be clear, we like Devon management, we don’t like their strategy. We laid out a carefully considered roadmap for Devon in our February 11th note: “Stop! Unleash the FANG Within” whereby Devon should essentially dispose of everything outside the Permian, focus on its decent Permian position (the FANG within), and massively buy back stock, driving the multiple higher. That would leave them in the position to …

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Post-OPEC Part III – But Wait it Gets Worse

By Paul Sankey Published on June 6, 2024 at 9:23 AM

Tonight on Happy Hour – 4pm ET – Johannes (Jan) Stuart serves as global energy strategist at Piper Sandler. A self-described oil-geek, Stuart and his team take a micro-fundamentals approach to energy analysis and forecasting – which frequently lands them away from consensus. Previously, Stuart spent 11 years in sell-side research, building leading energy-macro franchises at Credit Suisse, Macquarie and UBS. He was a journalist for much of the nineties and started his career at …

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Sunday Kingdoms and Princesses

By Paul Sankey Published on June 2, 2024 at 1:55 PM

Summer Greetings, Mexico and India elections culminate today in one of the busiest democratic years in history – the greatest in terms of number of voters. Incredible positive really. Violence in emerging markets/ Mexico and the limits on Indian growth because of democracy are two mega-themes. People want to live in Fascist States? Former case, we are expecting a major global leader assassination or deposal; we can only speculate on who and what impact in …

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