The Permian Big Unit: ExxonMobil’s MO (Magnus Opus)

By Paul Sankey Published on October 12, 2024 at 1:58 PM

With ExxonMobil approaching a December 11th analyst day, which we believe is not only a major milestone in the company’s history, but also global oil & gas history, we did what we did with Guyana. We took it to the mat. In this extensive note, we went back through every ExxonMobil conference call and analyst meeting, starting with the company’s completely wrong forecast for the US hydrocarbon balance in 2006, through the 2010 XTO deal, …

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Morning Pick Your Poison

By Paul Sankey Published on October 9, 2024 at 7:26 AM

The internet here at my parent’s apartment is so bad that I looked at buying a Starlink. £299 from Curry’s (British ~Best Buy). I’m tempted to, but in this basement flat, we only have a 20ft square patch of skylight. So now I am running internet from my iPhone and it seems okay including a full Bloomberg. Hats off to technology. And frankly, hats off to Elon. How did he come up with – and …

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Thematic: Middle East Oil Production Capacity, $NESR, $XOM and a $60/bbl Occam’s Razor

By Paul Sankey Published on August 31, 2024 at 12:53 PM

Quote in this note: “this is the first time that the Middle East has more rigs than the United States. And it’s not now more, it’s almost double.” We were very interested in the quarterly report of a delisted SPAC international oilfield service (OFS) company this past week. So interested, that we wrote you a thematic today on NESR (National Energy Services Reunited) vs ExxonMobil. We found NESR’s results call to be a terrific refresher …

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