Our Research

Yesterday, the Texas Railroad Commission (RRC) released the monthly ‘Summary of Drilling Permits, Completions and Plugging Reports Processed’ for the month of May. Within we provide a detailed analysis showing: 1) sequential (vs. April 2024);…

Yesterday, the Texas Railroad Commission (RRC) released the monthly ‘Summary of Drilling Permits, Completions and Plugging Reports Processed’ for the month of May. Within we provide a detailed analysis showing: 1) sequential (vs. April 2024);…

With the end of H1 as a marker, we took a look at equity returns required to reach respective 52-week highs for ~180 issuers across various energy & utility sub-sectors. Said differently, who is trading…

***Please see within for full analysis and takeaways. Tables & charts are best viewed on website*** A few weeks ago we published a comprehensive sector M&A analysis (‘The Summer of M&A’ Series Part I: We…

…and I am extremely excited – for the first time ever – not to have to beg for votes like my bulge bracket counterparts 🙂 That said, I am extremely grateful for all your support…

Overall the model portfolio is up 6.5% since inception on January 10th. The long book is up 15.2% and the short book is down 8.7%. Our NEE short position remains the largest underperformer (from being one…

why? We are currently evaluating portfolio weights and ET is our largest holding on the long side at this time (17%). We are considering alternative weights and rankings for several of our model portfolio constituents….

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…

…on the heels of our updates ‘shares on loan utilization.’ We were a tad surprised at the relative bearishness on E&P stocks given the massive nat gas move higher. The two stocks with the largest…

With this note, we are rolling out our detailed regional natural gas storage model. We now track and forecast storage balances for the following regions: 1) Lower 48 Total; 2) East; 2) Pacific; 3) Mountain;…

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…

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…

Overall the model portfolio is up 8.4% since inception on January 10th. The long book is up 16.4% and the short book is down 8%. Our PLUG short was the biggest loser this week (-18%) as…

…and we would really love for some large-scale M&A transactions to occur over the summer. They need to. Realistically, we believe the deal window ends at the end of summer – call it late August/…

…so what, who cares right? Domestic natural gas production is hovering ~98bcf/d. Ordinarily we would agree. However, the current set-up of: 1) expectations around continued (natural gas) production declines; 2) LNG export levels (~13bcf/d) not…