Our Research

…which is a ‘must have’ not a ‘nice to have’ disclaimer in natural gas markets (the all else equal). We had a marginal short position on for NG1 (April; ~$4.19 mark; 10% of our max…

Our latest analysis provides a brief summary of the current state of affairs in the ‘PSX vs. Elliott’ saga. We are incorporating all publicly available materials issued by both parties, including PSX’ latest fireside chats…

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…

Please see the detailed note within for which stocks survey takers (Read On) have gotten right, and which ones have been duds. Recall On November 14th 2024 we went live with the ‘Survey Portfolio.’ This is…

Prepared for C-Suite Executives (If you are not a subscriber and would like to see the content, please let us know). Date: March 15, 2025 Word Count: ~4,000 (Grab a Guinness and enjoy some pre-St….

Real-Time SOL Utilization Insights Inside, we provide real-time data on: Current Absolute Shares-on-Loan (SOL) Utilization W/W % Changes in Absolute SOL Utilization Borrow Rates 4-Week Moving Average Changes in SOL Utilization This covers ~200 publicly…

Within, we provide our thoughts on The Texas Railroad Commission (RRC) most recent monthly ‘Summary of Drilling Permits, Completions and Plugging Reports Processed’ for the month of February 2025. ***Happy to chat on specific stock takes…

The 12-month natural gas strip has surged to an average $5, testing our conviction as we stay short the front month (April; $4.20/mmbtu basis vs. ~$4.59/mmbtu, +4.3% overnight). Our proprietary model suggests a fundamental overvaluation…

Happy Sunday –  Fresh off client meetings, we’re diving back into another round in NYC this week, capped by Vopak’s Capital Markets Day on Thursday. For the first time in ages, we’re skipping CERA Week…

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…

Please see within for a quick summary. Meeting starts at 9AM ET. Happy to discuss. Timm Leading with the conclusion: Mostly reaffirmed estimates for 2025. Will come down to whether they are able to hit…

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…

We have been keeping an eye on thermal maturity trends in the Permian (specifically the Delaware) for several years. We highlighted this (most recently under The Schneider Capital Group umbrella) in 2023 following CVX’s analyst…

***We will be in NYC starting tomorrow Tue – 25th thru Fri – 28th. Please reach out to your analyst hub salesperson or me directly to schedule a time to connect*** Please see the detailed…

looks like it – as of 11AM ET on Sunday. But weather runs are not finalized yet. Today’s early cycle is indicating production is starting to come back online post prolonged well freeze offs. Weekend…