EOG: An Apple (of Oil) a Day Keeps the Bears Away

By Paul Sankey Published on November 21, 2024 at 7:02 AM

Premium Event Today This evening, Happy Hour, top Republican Lobbyist Aaron Cutler, we sent his bio to you yesterday evening. Date/Time – Thursday, November 21st 4PM ET; Guest – Aaron Cutler Registration Link – Click Here ~ We describe this as the worst normalized oil balance we have seen in our careers. Demand fine, monstrous over-supply. In OPEC alone (ie ignoring OPEC+, especially Russia and Kazakhstan) Bloomberg lists 33.5mb/d of crude oil production capacity vs …

US E&P M&A: Gobbler’s Knob – Again

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 …