Devon Energy: Stop! Unleash the FANG Within…

By Paul Sankey Published on February 10, 2024 at 11:23 AM

Never Let a Good Crisis Go To Waste There was a groan went up at Sankey Research at this week’s Reuters report that Devon was in talks to acquire Enerplus Corp (ERF). Why? The news broke as we were completing this note, which argues exactly the OPPOSITE strategy for Devon, than buying a company in the Bakken. We think they should SELLL the Bakken. And more besides, and we outline that herein. We agree DVN…

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Morning bp (the BP is silent)

By Paul Sankey Published on February 6, 2024 at 9:38 AM

Awoke? Obviously BP wants to hold its results conference call before the UK market opens, writes your correspondent after the conference call ENDS at 5:43am Brooklyn time (it started at 4am Eastern, with a couple of US analysts asking questions from Houston, for that 3am start, local time). “In a real dark night of the soul it is always three o’clock in the morning, day after day”‘ F. Scott Fitzgerald My suggestion, given that BP…

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Sunday Satya

By Paul Sankey Published on February 4, 2024 at 6:07 PM

Greetings, Having started last week upbeat on Big Oil results vs the market, expounded in this note last Sunday, my mood darkened throughout the week, culminating in depressed mood by Friday. Why? This oil sector’s performance vs the market. On Friday, with me optimistic on an earnings beat, ExxonMobil released its Q4 2023 results with a beat, right enough, and announced Q4 capex above Q3’s guidance. You can imagine the groan from Sankey Research HQ,…

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