By Paul Sankey
Published on October 16, 2024 at 10:10 AM
Mayfair, London, meeting an oil analyst at a major macro fund this morning, we had a most enjoyable meeting – for me at least – as I pitched the lateral nature of Sankey Research, vs the vertical silo nature of Wall St research. Basically he had worked at refiners, E&Ps, banks, and now commodity traders/macro, and I was arguing that barrel counters in global oil analysis are good at oil markets, but horrible at oil …
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By Paul Sankey
Published on September 1, 2024 at 4:08 PM
We sent you a rather different Thematic yesterday, covering $NESR, the delisted Middle East oil field service player, and the implications of their commentary on record levels of Middle East oil & gas development activity. So just a quick dash through a couple of charts today. Yesterday’s note is especially pertinent to the opening Keynote Speaker at Tuesday’s Barcap conference commencement – SLB, the artist formerly known as Schlumberger. So, plenty of corporate action this …
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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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