Sweet 16 Update - April 19
Sweet 16 Update - April 19
I am updating the main Sweet 16 spreadsheet and double checking my individual Sweet 16 company forecast/valuation models. Go to the EPG website and see what's new.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Sweet 16 Update - April 19
During the shortened trading week that ended April 18, the Sweet 16 move lower by 2.06% and is now up 16.89% YTD.
The four "gassers" (AR, GPOR, RRC and SWN) all moved lower with price of natural gas. Primarily caused by a big draw from gas storage reported by EIA on Thursday. We are now in the "Refill Season", so gas prices will be under pressure until summer heat moves in and raised demand.
The large-cap Permian Basin companies moved higher as they are seen as the most likely takeover targets for Exxon and OXY.
Range Resources (RRC) will be the first Sweet 16 company to report Q1 results. They are scheduled to report results after the markets close on Monday, April 22.
Since all four of our gassers have a lot of their production hedged, Q1 "Reported Earnings" will include some big mark-to-market gains on their hedges.
The four "gassers" (AR, GPOR, RRC and SWN) all moved lower with price of natural gas. Primarily caused by a big draw from gas storage reported by EIA on Thursday. We are now in the "Refill Season", so gas prices will be under pressure until summer heat moves in and raised demand.
The large-cap Permian Basin companies moved higher as they are seen as the most likely takeover targets for Exxon and OXY.
Range Resources (RRC) will be the first Sweet 16 company to report Q1 results. They are scheduled to report results after the markets close on Monday, April 22.
Since all four of our gassers have a lot of their production hedged, Q1 "Reported Earnings" will include some big mark-to-market gains on their hedges.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group