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Energy Transition

Pardon? * January 6th * Save the Date * What the (Oil) Traders are Saying

2025 Sankey Research Virtual Refining Conference Register your interest below for our 12th annual January Refining Conference, which takes place on the first working day of the year, to give you the first call on oil, right before Goldman in Miami. Format is Zoom fireside chats, with open Q&A – same as our Happy Hours/Strategy Sessions. Monday, January 6th 10AM | HF Sinclair (DINO) – Register for DINO Participating Management: Tim Go – CEO & President

Paul Sankey December 18, 2024 11:45 AM No Comments

Energy Transition

Bullish 2050 Natgas and Kinder Chocolate

Meeting Kinder Morgan last week in Houston, with my old mate, IR and corporate VP Peter Staples (my other old mate CEO Kim Dang was in NY for a couple of conferences) I perused the just-released guidance for 2025 and made the following comment: “So KMI stock is on 22x price-earnings, based on your guidance for next year of $1.27 EPS. Your dividend yield is down towards 4% (stock has ripped), and you just announced

Paul Sankey December 17, 2024 8:58 AM No Comments

Energy Transition

Sunday ExxonMobil’s Rock Role

*** Save the Date *** Sankey Research 12th annual January Refining Conference 2025 6th January (primary) & 9th January Virtual, details to follow. All major US independent refiners will be represented at C-level ~ Poof! Just another week in 2024, as drone swarms over NJ knocked the CEO assassin off the front pages. This is the last full market week of the year, and what a year. The latest “what the?” 2024 moments, are just

Paul Sankey December 15, 2024 4:28 PM No Comments

Energy Transition

CASY: Winner Winner Jalapeno Pizza Dinner

With our research getting backed up this week, because of travel to Houston, this brief note covers Casey’s ($CASY). If this note’s timing is as eccentric as our covering Casey’s, and Caseys’ reporting schedule, (we are somehow in Q1 2025) then we need to publish a brief results review, now or never. We cover “energy & energy adjacent” and like to be differentiated, so we enjoy our coverage of gas station companies because no other

Paul Sankey December 13, 2024 4:19 PM No Comments

Energy Transition

Sunday Doug Digs and Dug Outs

Dear All, Sorry I am late. But time just flies at this time of year, really from Labor Day, to Christmas, and we are flying. I have been struggling to get ahead all day. Now, this week to Houston, with the main event being the ExxonMobil upstream focus day on Wednesday 11th. Some people are looking for capex as high as $30bn a year, and that will not be well received, in the context of

Paul Sankey December 8, 2024 7:27 PM No Comments

Energy Transition

Titanic Deckchair Re-Arrangement Committee (OPEC) Meeting Concludes

This evening 4pm Happy Hour with Kathleen Kelley, special listener Ed Morse, and clients, to discuss OPEC. Register here for an OPEC chat, PREMIUM EVENT: https://sankeyresearch.com/conference/sankey-strategy-session-kathleen-kelley-interest-form-6/ Have to run after Happy Hour to the annual “Sellside Analyst Appreciation Dinner” with Chevron senior management this evening. They put us in stocks and throw mud pies at us. Only kidding, looking forward to it. ~ Man, normally oil pops on an OPEC extends cuts decision, and then

Paul Sankey December 5, 2024 12:09 PM No Comments

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A Thesis for Oil Market Price Dynamics: CUSP, the Call on Unconventional US Oil Supply, and the “Devon Put”

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