Our Research

At the time of writing, the author currently holds… nothing. Closed out all natural gas shorts (front end of the curve) on Friday. The juice isn’t worth the squeeze in terms of added stress level…

The question caught us off-guard. However, one of the most frequent questions we received this week was whether EQT could potentially be ripe for activism. Investors did not love the ETRN transaction. And some other…

We will be meeting with Corporates, Bankers, Equity & Fixed Income Investors, Lawyers, Private Equity and Sovereign Wealth funds next week in Houston. Please let us know if you would like to catch-up! We extended our…

…I grew up in Chicago, so I expect everyone to know the answer: 1998. That was a special year since it marked the (second) ‘three-peat’ after the Bulls also won titles in 1996 & 1997…

Good morning – The registration link to our next ‘Legends of Energy’ Dinner Series guest is now live. Please note we are only taking indications of interest at this time. LINK: Legends of Energy Dinner…

Please let us know if you would like to discuss some of the relative set-ups. Please note at the time of writing, the author holds: ***NOTHING*** Limit buy order in for May ’24 HH @…

Of course we can’t say for sure, but we believe it is tied to a stark presence of more sellers than buyers… An annoying answer to a transaction that annoyed a lot of people, at…

We are excited to announce our upcoming site tour with Energy Transfer (ET) featuring the Marcus Hook Terminal in Philadelphia, PA. Marcus Hook is one of the few larger energy infrastructure sites that I have…

Will AR/ AM be next? If CVX/ HES gets approved, how long will HESM be around? Is this EQT/ ETRN roll-up bullish or bearish for domestic natural gas prices? Who could be a buyer of…

Good morning – 5:30AM and another potential Midstream buy-in on the wire. WSJ out with a news article saying a buy-in transaction of ETRN by EQT will likely be announced later today. At the time…

Utility investors are a special breed – I mean this a positive! Hats off for digging through endless pages of testimony, rate cases, and other regulatory minutia on a daily basis. Given the investors’ immaculate…

For the news, we include a brief summary description for each headline. We only include links to news sources that do NOT require you to have a subscription to the respective site, or if they do, they are…

At the time of writing, the author currently holds… zero stocks (sold down all of the ARLP & C positions this week), BUT a massive levered long nat gas position. Note to self: Maybe think…

We hadn’t spent a ton of time on the Texas Railroad Commission Monthly ‘Summary of Drilling Permits, Completions and Plugging Report’ data. However, the data does came out relatively quickly (a few days post the…

Shares of Southern Company are down ~3% YTD, roughly in-line with the UTY Index. SO has been the second worst ‘long’ (after LNG) since inception of our model portfolio on January 10th, down ~5.5%.  ***Effective…