Our Research

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…

ET is often considered the proverbial ‘catcher’s mitt’ when it comes to Energy Infrastructure M&A. One ambitious social media participant recently referred to them as the ‘Tiger Shark of Midstream.’ Better a Tiger Shark than…

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 spent most of last week in Texas. We kicked the week off in Austin for the 2024 Latham & Watkins Executive Energy & Infrastructure Conference. The conference offered a great format as it was…

…continues to torpedo the short book. We actually met with some Orsted commercial folks earlier this week. Interesting discussion on the battery/ storage side of things. Weekly Performance of the ‘Long’ Book source: The Schneider…

See within for detailed stock & sector observations as well as a brief tutorial for interpreting the SOL analysis.  We believe the individual stock break-down (we limit to top three for ease of viewing) is…

Thx to the ~50 respondents who participated in our most recent survey. Overall, respondents were most bullish 1) Utilities; 2) IPPs; and 3) Midstream in terms of the AI/ Data Center/ Electrification theme. Interesting observation:…

For non-consensus M&A ideas, we also like: 1) TRGP for PAA; and 2) WMB for GEL. There are others as well. We will discuss these in future notes. We have run all of the accretion/…