By Paul Sankey
Published on November 6, 2026 at 1:05 PM
Summary of Happy Hour yesterday evening US oil production: Clarke said lower 48 output has been “sneaky” strong. Rigs are up about 40 from the start of the year in the important geographies. Woodmac’s lower 48 crude and condensate exit rate is 11.4m b/d against 11.0m b/d modelled earlier in the year, about 400,000 b/d above its January/February view. He put 2027 growth at 300,000 b/d or more. He attributed the beat to smaller private …
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By Paul Sankey
Published on July 27, 2026 at 7:33 PM
Publishing a note on Sunday has become existential for me, so I apologise for not getting this note out yesterday. This is my Sunday note… so late it is on a Monday. I have stripped it down to be mostly about Halliburton. What started as a quick look at Halliburton’s results for Sunday, then got tangled with Liberty Energy down -25% on its results last week, SLB results then had that stock moving strongly higher …
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By Paul Sankey
Published on June 23, 2026 at 12:39 PM
Hola, It was a relief to start the week as we hoped, with some non-Hormuz corporate newsflow, and in this note we talk about the Chevron vs Microsoft Permian mega-data center announcement. Relief, because my Sunday note on the geopolitics of the nation players in the Hormuz talks was exhausting to write, and sure enough the weekend talks yielded a framework for more talks, or something. Talks about talks for talks. The point of the …
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