EUROPE’S ENERGY CRISIS IS KEEPING ENERGY PRICES AND INFLATION HIGH
America leads the world in oil and gas production. We believe midstream energy infrastructure offers predictable cash flows to investors..
Tellurian Drifts Into Stronger Hands
Tellurian finally put its investors out of their misery, selling to Woodside for $1 per share. The 75% premium to the prior day’s close is only impressive because the stock has sunk so low to this point. Founder Charif Souki was never able to obtain financing for this LNG wannabe. In 2022 in one of […]
Trading On Trump
Press reports suggest President Biden will bow to the inevitable and withdraw from the election – the first time since Lyndon Johnson an eligible president has declined to run. Betting websites and financial markets have been pricing for a new Democrat candidate since the debate. Presidential candidate Kamala Harris is unlikely to fare much better, […]
Energy Racks Up Steady Outperformance
As we head into earnings season, Kinder Morgan will as usual kick off the reports from midstream energy infrastructure. The appeal of pipelines has always been their predictable earnings underpinned by long term contracts. Earnings surprises have been rare for several quarters, except for Cheniere which regularly beats to the upside. Many investors continue to […]
A Gassier World
BP’s 2024 Annual Outlook continues to navigate carefully the political minefield that faces any big energy company in making projections about energy consumption. They’ve simplified their scenarios – in 2022 Accelerated, Net Zero and New Momentum all sounded faintly hopeful and for the first two totally unrealistic. New Momentum was the scenario intended to present […]
Natural Gas Demand Keeps Growing
The White House pause on LNG permits has impacted negotiations. Poten and Partners, a research firm, estimates that Sale Purchase Agreement (SPA) volumes are –15% in 1H24 versus a year ago. It’s hard to get buyers to commit to buying LNG from a new export terminal without certainty about when it’ll be constructed. Fortunately, last […]