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The Permian Big Unit:ExxonMobil’s MO (Magnus Opus)

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Quote of the day: “Everything that grows / Holds in perfection but a little moment.” — William Shakespeare.
Energy Transition
Paul Sankey

EOG: An Apple (of Oil) a Day Keeps the Bears Away

Premium Event Today This evening, Happy Hour, top Republican Lobbyist Aaron Cutler, we sent his bio to you yesterday evening. Date/Time – Thursday, November 21st 4PM ET; Guest – Aaron Cutler Registration Link – Click Here ~ We describe this as the worst normalized oil balance we have seen in our careers. Demand fine, monstrous over-supply. In OPEC alone (ie ignoring OPEC+, especially Russia and Kazakhstan) Bloomberg lists 33.5mb/d of crude oil production capacity vs

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Paul Sankey November 21, 2024 7:02 AM No Comments

Happy Hour tomorrow, Aaron Cutler, DC Lobbyist, Hogan Lovells

Premium Event Date/Time – Thursday, November 21st 4PM ET Guest – Aaron Cutler Registration Link – Click Here As a former senior House leadership staffer, Aaron Cutler contributes high-level knowledge of policy and regulatory matters to his practice at Hogan Lovells. Now a partner and leader of their Government Relations and Public Affairs (GRPA) practice, he lobbies Congress in insurance and financial services; energy; sports and entertainment; and technology, media, and telecom sectors. He has advised clients on cryptocurrency, energy, procurement,

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Paul Sankey November 20, 2024 5:36 PM No Comments
Energy Transition
Paul Sankey

Sunday Choose Your Mates Wisely, Because You Can’t Choose Your Family

We sent you a thematic yesterday at a slightly odd time, late Saturday evening for me here in London, on the UK North Sea and APA. We were very negative on both. This morning, a major long only client wrote from the US: “This [North Sea/APA] write up should be taught in both history classes and policy classes TODAY. Wonderful work and I love reading these. Thank you.” Awww, shucks, kudos as ever to Greg

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Paul Sankey November 17, 2024 11:28 AM No Comments
Energy Transition
Paul Sankey

The UK North Sea & Apache: where NOT to Invest

In this note we outline the bear case for the UK North Sea, and for APA (formerly Apache Oil) with a price target of $15 on APA (stock closed Friday at >$22) “before we get interested”. We postulate takeover and activist strategy at the end of this note. We slam the UK government and UK eco-fascists for abject lack of global context in their pursuit of “Net Zero”. The UK economy is low emission, and

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Paul Sankey November 16, 2024 3:33 PM No Comments
Energy Transition
Paul Sankey

Suncor, or a Rose by any other name would smell Tourmaline

My standard line on the challenge as an analyst, is that you make a good call, and within three months everyone else starts saying it. Good calls can’t remain exclusive. Sure enough, today the IEA is out questioning whether China oil demand has peaked, making 2024 an epic (bearish) year in global oil market history. Yesterday I was reading an article from CGEP mooting the same call. We will come back to the subject Sunday,

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Paul Sankey November 14, 2024 8:04 AM No Comments
Energy Transition
Paul Sankey

Morning Emissions? Schmissions!

Great guests this week on Happy Hour – CEO and team of what has been over time, our favourite North American natgas play: Date/Time – Thursday, November 14th 4PM ET Guest – Mike Rose, Chairman & CEO at Tourmaline Oil & Jamie Heard, VP Capital Markets [and natgas markets wizard] at Tourmaline Oil Registration Link – Click Here Mike Rose is a Calgary legend with good reason, and always a great call. Plenty to talk

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Paul Sankey November 12, 2024 8:23 AM No Comments