EUROPE’S ENERGY CRISIS IS KEEPING ENERGY PRICES HIGH
America leads the world in oil and gas production. We believe midstream energy infrastructure offers predictable cash flows to investors.
Gas Exporters Keep Growing
Venture Global (VG) continued its post-IPO recovery last week. Back in January price talk was above $50 which would have valued the company at double market leader Cheniere. Pushback from institutional investors reduced the IPO price to $25, but it quickly sank below this (see Nothing Ventured, Nothing Gained). VG has earned a reputation for […]
Did Ukraine Boost Oil Prices?
Macro issues are driving the market even more than usual. Pipeline earnings came with barely a ripple as companies once again generally hit or modestly exceeded guidance. Crude oil rose on Monday on news that OPEC+ was planning a smaller than expected increase in output. This coincided with Ukraine’s spectacular attack on four Russian air […]
The World’s Only Shale Revolution
In conversations with investors the Shale Revolution is acknowledged as driving US hydrocarbon production up. What is less appreciated is how much this has been a US phenomenon, with no equal anywhere else in the world. The technologies of hydraulic fracturing (“fracking”) and horizontal drilling were developed sufficiently that they allowed access to enormous reserves […]
Investors Warm To Gas Exposure
The mood was reportedly upbeat at the 22nd Annual Energy Infrastructure CEO & Investor Conference (known as the EIC) in Aventura, FL last week. Performance has been good. The American Energy Independence Index, which reflects the overall industry, has a five year trailing return of 27% pa, easily beating the S&P500’s 16%. Management teams provided […]
Notes From The Midstream Industry Conference
My partner Henry Hoffman attended the 22nd Annual Energy Infrastructure CEO & Investor Conference in Aventura, FL last week. Below are Henry’s notes from presentations and meetings. The mood at this year’s conference was upbeat, with natural gas demand driven by data center power requirements and the next wave of LNG projects taking center stage. […]