By Paul Sankey
Published on April 7, 2024 at 5:02 PM
We sent you a theme note on BP & BPX yesterday, which was quite sad, remembering the John Browne Sun King glory days. In fact “harsh but fair” was feedback from one US E&P CEO. But as I have said many times, “if you ever feel sorry for an oil CEO, short the stock.” What should BP do? Get into Namibia. Buy a Gulf of Mexico deepwater player, but first cut out of transition investment; …
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By Paul Sankey
Published on February 18, 2024 at 4:28 PM
Suddenly we are all bullish oils. Last week went well. Certainly it went well by oil’s atrocious recent standards vs the wider market. In fact, last week might just be a very bullish set up for the oils. But that statement depends a lot on NVDA results ahead. NVDA reports this week 21st February Wednesday after the market, going head-to-head with oil laggard APA, formerly Apache. We do not expect APA results to change the …
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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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