By Paul Sankey
Published on June 22, 2025 at 7:24 PM
Greetings, So, welcome to “Day 2”. The Iranian Parliament has just voted to close the Straits of Hormuz, which would most threaten the finances of… Iran. Vice President JD Vance has already described it as economic suicide to do so, without reference to what Israeli/US bombing has done to the Iranian economy already. Whoever takes over Iran will desperately need to export oil. The Trump Administration will do everything they can to help them, backed …
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By Paul Sankey
Published on June 8, 2025 at 12:11 PM
“There is a Lot of Land in West Texas” One of the oldest oil companies in currently quoted US oil equities, Texas Pacfiic Land, originating in 1871, is a barely known outsider that emerged seemingly from nowhere to S&P500 inclusion in 2024: TPL now has a larger market cap (no debt) than Devon, Coterra, Halliburton, Antero or Permian Resources. In this note we deconstruct TPL’s valuation, and establish the massive implied AI Data Center land …
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By Paul Sankey
Published on February 16, 2025 at 4:44 PM
Last night we sent you a note “Valero: Nothing to See Here” jammed with oil market/refining/Valero/PBF/Neste Elliott Management/BP etc chat. In eccentric fashion, the note was approved and distributed yesterday on Saturday night at 11:15pm. Just the perfect timing for a work email. So this note serves to highlight it to you, and keep it brief otherwise. Stay tuned for Sankey Research Partner Greg Bordelon model portfolio update later today, I suspect, but don’t know, …
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