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Permian (Texas) activity data implies ‘discipline and maintenance,’ not a ‘sprint,’ even as permit counts rebuild a sizable ‘call option’ on future (think 2027) Permian growth. In this note we rank monthly wells, completions, and…

We just spent the last few hours going through the latest EIA STEO (Short-Term Energy Outlook) reports. June was released today. Within we discuss some of the key changes in tone since the beginning of…

A few thoughts on the (oil) market narrative shifts from end of February through today. Maybe I should just get back to focusing solely on natural gas (unfortunately no one really cares at the moment)….

this is on a weighted basis. Please see within for full positon details. We sort these by: 1) Respective portfolio weight; 2) Total return (including dividends); and 3) actual cash lost/ made (i.e. weighted). Recall…