By Paul Sankey
Published on December 3, 2023 at 5:14 PM
Right kids, how are we doing? There was a “Chevron: Dinner with Sauce” note sent yesterday which got strong feedback. One comment is that CrownQuest, the current $10bn reported Oxy takeover candidate in the Permian, will go for an “insane, all-time record” price per acre. We shall see, it might well not be to Oxy, the speculation is around Devon, ConocoPhillips, Diamondback, as other strong suitors. But we want to be short Oxy this week,…
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By Paul Sankey
Published on December 1, 2023 at 11:17 PM
“How was dinner with Chevron last night?” asked several clients: My reply: “It was a thirty person private event with lashings of sycophancy, glooped in an ingratiating gravy.” “Yeah” replied a client “I figured, from the sellside notes this morning.” The obsequious sellside is made more striking, because the buyside is currently negative on Chevron. I mean look at the price chart. Hey, the buyside are getting really negative oil. They are pretty negative natgas….
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By Paul Sankey
Published on November 30, 2023 at 9:52 AM
It’s a good day today to be having dinner with the CEO of Chevron, hosting a sellside dinner tonight in NYC. Sorry, they blew up Happy Hour for this week, but next week we have Tourmaline management. Great for North American natgas. Last night I had dinner with Manchester University Alumni, and sat next to a macro mutual fund manager (multi family office). “How is global liquidity?” I asked. “Much higher than people think” was…
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