By Paul Sankey
Published on February 18, 2021 at 8:26 AM
Field trip. Speaking to Devon yesterday after their results, I asked to visit the company in Oklahoma, which seemed somewhat ludicrous in the circumstances. There is an energy emergency in Texas and Oklahoma, in case you have been asleep all week. However a visit is okay to go, so if any clients wish to join me on a Oklahoma/Texas run in the week of March 15th, the plan will be to get through next week’s […]
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By Paul Sankey
Published on January 15, 2021 at 8:25 AM
Yesterday was one of those thematic days. “You don’t buy a cheap oil stocks, you buy good management.” We started with an activist getting aggressive on Ovintiv, had a great conversation with the CEO of Northern Oil & Gas, had another activist letter to Delek USA from Carl Icahn’s CVI Refining, and rounded out with Happy Hour. But first, it’s Friday, and that means we start with… What do you call a mythical beast that […]
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By Paul Sankey
Published on January 6, 2021 at 8:41 AM
Sankey raising Brent oil price forecast to $54/bbl for 2021 (from $45) and $58/bbl for 2022 (from $56). Sankey raising WTI oil price forecast to $52/bbl for 2021 (from $42) and $55/bbl for 2022 (unch). It’s difficult to unpack what just happened to oil markets in terms of Saudi Arabia’s shock move to unilaterally “gift” cut production by 1mb/d for February and March; right down to 8.1mb/d, the very low of their historic production levels. […]
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