Our Research

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’…

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 LP2 on January 16th. Within we…

Over the last week we’ve had a pretty remarkable cross‑section of conversations with Long‑only, Hedge fund, and strategic clients across upstream, Oilfield Services, Midstream, LNG, and Utilities. Natural Gas (volatility and how to trade it)…

This morning we closed out our NG2 (Mar-26) $3.60 Calls (Feb-24 expiry) which we initially put on Friday, January 9th, for a total return of ~420%. We are now ‘only’ down ~70% when factoring in…

Energy positioning for 2026 is far from one‑size‑fits‑all- and this report shows it in a way no one else does. This is on the heels of our proprietary 2026 Energy & Utility Outlook Survey results…

Everyone is buzzing about Harold Hamm’s talk of taking CLR to zero rigs in the Bakken, but when we run CLR’s own numbers and Bakken type curves, the impact is still a rounding error on…

But we have some downtime ahead of the Bears game… We look at all metrics on a per share basis. 1) Earnings; 2) FCF; and 3) EBITDA. We also solve for combined leverage and back…

Will it stay that way? Who knows- but we’ll be glued to the weather runs. The biggest impact is obviously on the front months (Cal‑26). As a side note, what really stands out when we…

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 survey portfolio has turned into a pretty entertaining (and profitable – so far) popularity contest. The book is an amalgamation of 39 longs and 27 shorts (we show six neutrals for context), all sized…

‘Love/Hate’ Portfolio II (LHP II) looks very different from the first book (LHP I; closed out last night: Closing ‘Love/Hate’ Portfolio I For a Two-Week Return of ~50bps), which was basically ‘real‑asset pipes and upstream…

Our initial ‘Love/Hate Portfolio‘ for 2026 fizzled into week two – giving back ~100bps since 01-09-2026 for a total return of ~50bps. As a reminder, our ‘Love/Hate’ portfolios are short-term (two week time horizons have historically generated the best…

Mitsubishi’s just-announced acquisition of Aethon’s Haynesville platform (last night) is not ‘just another gas deal’ – it’s a scale, vertically integrated entry into U.S. shale that sits right at the intersection of LNG growth, AI/data‑center…

Leaning on a few battle‑scarred PJM veterans in our backyard, we provide a preliminary walk-through of what this ’emergency’ auction could mean for IPPs, utilities, and hyperscalers. Opinions are all over the place on this…

Within, you’ll find our latest Texas activity report – an expanded, data‑rich version of our recent piece, Texas Ramps Into Year‑End But 3‑Month Activity Trend Signals Slowing Production (Growth?) in 2026. A lot of folks asked…