By Paul Sankey
Published on August 5, 2021 at 8:52 AM
With EOG rounding out oils’ earning season after the market yesterday, we had the final disappointment as oil prices test downside support levels breaking $70/bbl (Brent, WTI already broke into the upper $60s.) Expectations of an excess cash return special or splashy buyback announcement by EOG were dashed. Nothing. Just good free cashflow in a $70/bbl+ tape and the promise to pay down more debt by 2023. This is not the first disappointing Q2 earnings, […]
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By Paul Sankey
Published on August 1, 2021 at 1:25 PM
We found ourselves standing on the North Slope, Alaska, above the Arctic Circle, surveying the endless flat tundra. There there is no sunlight from October to early March; total darkness over half the year. For the rest of the year, the sun does not go down – no darkness. That place, my friend, is Far North. The nearest city is Anchorage, 1,000 miles south, itself as distant as Perth Australia; palpably remote; strange and distant […]
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By Paul Sankey
Published on July 30, 2021 at 9:06 PM
SAVE the DATE: Sankey/Jan Stuart summit, Vienna, December 2021 OPEC meeting. Likely December 2nd. World Petroleum Conference in Houston December 5th – 9th forces their hand to an early in-person Vienna meeting early December. I plan on attending both, and Jan and I will host a “thought leadership” drinks party in Vienna on the eve of the meeting. Join please! Save the date. 2nd Spoke to a big player who trades Utilities, and he said […]
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