Morning X-Ys Club

By Paul Sankey Published on November 25, 2020 at 8:47 AM

Last week we published a chart showing the x-y plot of trailing year-to-date free cashflow vs volume growth for the big oil group. This if you remember, prompted Silvio’s legendary joke when I called him to tell him I was having a nightmare with x-y charts, which he misheard to be “having a nightmare with ex-wife chat”. Anyway, a major Long Only investor replied immediately to the note last week pointing out that the chart […]

Read More


By Paul Sankey Published on October 14, 2020 at 9:23 AM

ConocoPhillips $COP for Concho $CXO does not generate the “why oh why” outrage of the seemingly ludicrous rumours at the time of Occidental for Anadarko, by any means. Last evening, just as we pondered a solidly in-line-with-expectations Q3 guidance from Diamondback $FANG, Bloomberg published a story claiming that ConocoPhillips is taking over Concho, which was a whole lot more exciting for a Tuesday evening, notwithstanding my wife Patricia getting liquidized chilli directly in her eye, […]

Read More

Sunday Sankey 7/19/20

By Paul Sankey Published on July 19, 2020 at 10:36 AM

This week we have our usual sparkling mix of charts and graphs, with some bullish elements, namely China crude imports hitting record highs, and some major issues, such as rising oil product prices in India and the perfect W of US recovery. We have a book recommendation for you, and the weather looks HOT.

Read More