Our Research

…in our weekly marks for our latest (third) iteration of the ‘Love/Hate’ portfolio. The Love/Hate portfolios are short‑term, sentiment‑driven books we refresh every two weeks. 10 longs. 10 shorts. Across all energy & utilities. We…

We went through all of the APC Materials last night and currently going through the MWH filings. Very different companies but MWH arguably the optically more interesting one. We have noticed a meaningful uptick in…

We generally don’t spend a ton of time on the weekly storage numbers – but today’s number could be interesting as it is expected to be a record draw of a median ~375bcf (360- 410bcf…

The natural gas storage market is at an inflection point – undergoing a structural shift fueled by unprecedented volatility in both supply and demand. At a high level, this aligns squarely with our V² >…

We actually received a few questions on EPD after the company’s Q4’25 earnings release – woot woot! Joking aside, we don’t typically get a lot of inbounds on EPD, not because of any shortcoming on…

source: The Internet We read Kimmeridge’s latest DVN/CTRA letter from 17:30 ET today (KIMMERIDGE COMMENTS ON PROPOSED MERGER OF COTERRA AND DEVON), which sent us back to the November 2025 Coterra piece (Kimmeridge Releases Letter…

Devon and Coterra have now put a real deal around what we all kicked around as a hypothetical for weeks: An all‑stock, fixed 0.70 DVN shares for each CTRA share, roughly ~$58 billion of combined…

Mar-26 (NG1) is currently down ~20%. We show both Cal-26 through Cal-28 curves below plus the levered ETFs BOIL and KOLD. We have closed our short position and taken a small long in the front…

Amidst a month of record volatility. We are currently short the front month (NG1; Mar-26) at an average ~$4.15, taking a (bit of a) beating on Friday on the ~12% move higher (Didn’t make sense…

The survey portfolio is an amalgamation of 39 longs and 27 shorts (we show six neutrals for context), all sized directly off investor conviction from our 2026 Energy & Utility Outlook survey (link). We ‘funded’…

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 free of charge. However,…

The Love/Hate portfolios are short‑term, sentiment‑driven (two‑week horizon) books built off real‑time shares‑on‑loan analytics: 10 longs vs. 10 shorts, with full position and performance detail in the note. We initiated LHP2 on January 16th and closed…

source: The Schneider Capital Group; The Internet Well- if you have been getting them from us, our account has been hacked, because we generally find them quite useless. No offense to the ‘traditional’ sell‑siders (we…

Within, we provide a concise look at: Current supply/demand balances and key deltas vs. pre‑storm (freeze‑offs; lower LNG feed; etc); Updated Weather runs (all models); Regional power outages; and Current and day‑ahead power pricing. Our…

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 free of charge. However,…