By Paul Sankey
Published on January 11, 2024 at 10:52 AM
And so it comes to pass. CHK and SWN tie up. The legendary name of Chesapeake (CHK) will be retired, which is a shame. Especially when these branding companies seem to think mostly in healthcare with “Ovintiv” and “Civitas”, although “Andeavor” replacing Tesoro was merciful. We continue to argue that Marathon Oil should re-brand as “Emaro”, having both a Marathon Petroleum and a Marathon Oil in the market has always been absolutely nonsensical. The point …
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By Paul Sankey
Published on January 7, 2024 at 3:43 PM
Just back from Miami, quite the weather in the North East. Tomorrrow 2pm we round out the refining conference so far with Phillips 66. Register here: Phillips 66 (PSX): Mark Lashier – CEO, Kevin Mitchell – CFO, & Jeff Dietert -VP, IR https://sankeyresearch.com/conference/2024-sankey-refining-conference-interest-form/ Broadly speaking having been tested to the extreme by COVID, a truly worst-case scenario in macro terms, the refiners are in very good shape to start the year. Best potential to surprise …
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By Paul Sankey
Published on December 16, 2023 at 9:43 AM
We have argued for several years that Saudi/OPEC oil production cuts are bearish for US natgas prices, as they encourage US Permian players to grow oil supply, with attendant associated “free” natgas and natural gas liquids (NGL) production. With oil price economics at $70/bbl still justifying aggressive activity/growth in major US oil basins, vast quantities of natural gas are produced as a by-product. Excess gas supply in the Permian has led to the start up …
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