Quote of the day: “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming “Holy Shit! What a Ride!” – Hunter S. Thompson

Energy Transition
Paul Sankey

DVN-CTRA: Everybody Now, Right Foot Forward

The end game here is less US oil companies producing less US oil (& gas) for higher pricing and margins. That is exciting. While casual observers might see yesterday’s Devon for Coterra take-under as obviously disappointing – both stocks fell on the day, for the dreaded damp squib double decline, in reality, this a step in a process, not an end game. Devon announces bid for Coterra but “this is far from over”. Next step,

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Energy Transition
Paul Sankey

Sunday Rich Friends and Relative Enemies

Brrr, It’s absolutely freezing here in New York city, the ruddy East River has only frozen (see above) and the streets are a bleached hellscape of black-iced pavements walled by dirty ice-snow piles topped with backed up garbage and passing dogs. Everything is frozen solid, the wind outside is howling, here in Brooklyn Heights above New York Harbor. Oof. Source: Weather.com, NOAA Back to natgas in a second, but as a historian, I would be

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Energy Transition
Paul Sankey

Evening Backlog: GE Vernova, Lucky 888

Sorry there was no Happy Hour today with earnings this week, I meant to warn you before 4pm but I got tangled in a couple of things today, like the Social Security Office downtown Manhattan (oh yes, through ice by subway) and then a lot of messing around for a 2 minute slot on CNBC. Noted Coterra merging with Devon getting hot (Bloomberg) Chevron and ExxonMobil results tomorrow, We take a look at GE Vernova’s

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