By Paul Sankey
Published on February 6, 2026 at 9:50 AM
Last night I was chatting to an energy Portfolio Manager (PM) and asked what he thought of the ConocoPhillips conference call, held yesterday: “ConocoPhillips are just waiting to get taken over.” Meanwhile, a different client sent me this doozy from Shell. A -40% Reserves Replacement Ratio, 73% replacement organic, trailing 3 year average 84% reserves replacement, with <8 years reserves life. In case you are new here, we are aiming to replace reserves annually, so …
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By Paul Sankey
Published on November 9, 2025 at 5:34 PM
Busy week ahead! ENI ringing the bell on the NYSE tomorrow with management comments meeting for analysts. I’m seeing if I can jump on CNBC while I am on the exchange floor. It is a TV set and bell ringing photo op these days. The traders nowadays are chips in data centers. Those guys on the floor are extras. Woodside CEO Meg O’Neill dinner on Tuesday. CVX post-Hess analyst meeting Wednesday November 12th. Happy Hours …
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By Paul Sankey
Published on October 14, 2025 at 4:39 PM
Happy Hour this week with Doug Garber, former top Hedge Fund portfolio manager who has recently attended the Barclays and Jeffries Energy Conferences, and GS Tech Conference (Communacopia?). He has some views. We are going at 12pm to fit Doug in, but note that we now record the one hour session and distribute to premium customers. Doug will be distributing through his channel www.PitchthePM.com https://sankeyresearch.com/conference/sankey-strategy-session-doug-garber-interest-form/ Doug’s full bio is at the end of this note. …
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