By Paul Sankey
Published on May 25, 2026 at 6:28 AM
Greetings, Refusing to chase Hormuz headlines for risk of insanity, I took a wander through the E&P headline of the week: Devon’s record-breaking $2.6 billion Federal Lease buy from the Bureau of Land Management in the prime Permian Delaware Basin, New Mexico. It was a historic sale—sweeping up 16,300 acres at a staggering $161,500 per acre—that triggered me to once again go down a rabbit hole driven by my own interest; sense-checking some old valuation …
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By Paul Sankey
Published on December 24, 2025 at 6:57 PM
Good evening, We have previously noted that the Trump Administration needs a foreign war to get past the raging Epstein dumpster fire. Venezuela looks juicy for a distraction. We also noted that this Administration likes major news announcements on key dates, and these can come during major holiday news lulls, ie today. Key numbers, after I did the ring around on Venezuela: As of 2019, Venezuela was estimated ~1.9mb/d production capacity. The Vice President just …
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By Paul Sankey
Published on August 6, 2025 at 12:14 PM
We are counting barrels on Happy Hour tomorrow at 4pm ET, with Rory Johnson, Commodity Context. Premium Event: https://sankeyresearch.com/conference/sankey-strategy-session-rory-johnston-interest-form/ ~ BP are back! We are absolutely delighted for BP Exploration, on an accelerating roll, what terrific news of their massive Brazil discovery announced yesterday. This is exactly what BP needed, a major step in re-setting the company image. A welcome return to what we oil analysts love to talk about, “elephant” discoveries, development timelines, so …
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