In cyclical industries like oil and gas, the best investment opportunities often emerge during downturns — when sentiment is weak, but long-term fundamentals remain strong. We believe that now is one of those moments.

Oil-related equities have pulled back sharply over the past month, driven by macroeconomic concerns related to tariffs and the news that OPEC will begin unwinding production cuts. But cutting through the headlines to the...

We recently hosted a webinar outlining the significant opportunity we see in the natural gas market. In case you missed it, we've recorded a walk-through of our presentation, which you can find below, along with a brief ...

Natural gas is booming in the US. Prices are up substantially. There is a surge in the construction of LNG export facilities, petrochemical plants, and AI oriented data centers. But the rig count is down, development inv...

A growing narrative shaping the natural gas futures market centers on the anticipated surge in electricity demand driven by AI advancements. It’s clear why this perspective is gaining traction. AI data centers, some proj...

Great Duvernay well results from Spartan Delta, Baytex, and Paramount have us excited about Journey's Duvernay joint venture development, but potential liquidity issues and Journey’s history of production misses and dilu...

Happy New Year! As we enter 2025, we are pleased to provide an update on Journey Energy, whose recent presentation did not adequately address our key concerns. These concerns include significantly elevated operating expe...

Our recent note addressed Journey Energy’s underperformance. We have prepared an update on our perspective on Journey, reflecting changes since Q2, and are pleased to share it here:

In February 2023, we shared a positive perspective on Journey Energy and its management team. Since we shared our perspective, Journey has missed cash flow and production guidance, seen operating expenses rise 50% above ...

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In 2020, the U.S. became a net exporter of crude oil and petroleum products. Despite misconceptions perpetuated in popular media, economic principles suggest that as a net exporter, rising prices for goods that are net e...

Oil Market Update

On Monday February 12th, Diamondback Energy ($FANG, NYSE) announced its acquisition of Endeavor Energy to add to its Permian basin assets. This transaction adds about 357,000 BOEPD and 344,000 net acres to FANG’s asset b...

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)

(Important Disclaimer at the Bottom)