By Paul Sankey
Published on May 26, 2021 at 9:06 AM
Of course one of the most egregious aspects of Oxy’s deal for Anadarko was that a shareholder vote was deliberately avoided by CEO Vicki Hollub. This doubly bad because a preferred $10bn deal with Warren Buffett was the route taken to get a deal cash-rich enough to avoid a shareholder vote. Activist Carl Icahn took revenge by issuing warrants to all shareholders – but not to preferred Buffett – and effectively capped the Oxy share […]
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By Paul Sankey
Published on May 25, 2021 at 9:02 AM
We have Valero CEO Joe Gorder and team on Happy Hour this Thursday at 5pm. This is great timing, even if any time with Joe is good time spent. It is not so much that Memorial Day is imminent, the traditional start of driving season peak US demand, but also this week might be one of the most significant in the US oil history. We are referring to the release of the Ford F150 Lightning […]
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By Paul Sankey
Published on May 24, 2021 at 8:18 AM
Cimarex and Cabot to merge as equals, the new company will be called Cimmabon. No, Cabarrot. Only kidding, they have not announced the new name. Call at 8:30am ET – imminently. Also we mention Tellurian, which is rising in the meme stock world – most mentioned on Reddit (see lists below). Overall, we love LNG plays, but US export competition is fierce, and our key play is Cheniere, $LNG. Years ago under Souki they snagged […]
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