By Paul Sankey
Published on June 1, 2024 at 12:27 PM
“That must mean we’re up here at Gobbler’s Knob, waiting for the forecast from the world’s most famous weatherman, Punxsutawney Phil.” Phil Connors (Bill Murray), Groundhog Day (1993) We are back to writing about E&P M&A … again. Our conclusions are broadly unchanged: Big companies are being incentivized by the market to take over the small, but with an evolution on the margin that finds asset quality now of equal importance to valuation; we are …
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By Paul Sankey
Published on May 26, 2024 at 12:49 PM
Memorial Day weekend, a legendary moment of the great American year. “Summer 2024”. Man, it has a nice ring to it. I like round numbers, prime numbers, cool numbers, and 2024 has a great ring – so far. Best we can say, is It is unlikely to turn into 2020, we got past March. Market at all-time highs, new generation investment in AI, we spiral forward. With effectively zero unemployment, these are the times when …
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By Paul Sankey
Published on May 12, 2024 at 7:08 PM
We have hit that point in oil markets when suddenly, just like that, all the newsflow turns bearish. Better put “seems bearish”. Once again, like our commentary on US distillate looking less terrible when you add back renewable diesel (note published last week), latest reports of the death of the oil market are over-stated. Prior reports have proven completely wrong. While there may be bearish fears regarding the upcoming June 1st OPEC meeting, the reality …
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