Energy Prospectus

CIVI closed today at $70.83 I have updated my forecast/valuation model. My valuation stays at $114/share, which is just 3.5 X annualized operating cash flow per share. TipRanks: "In the last 3 months, 11 ranked analysts set 12-month price targets for CIVI. The average price target among the ana...

Q2 financial results look good and updated production guidance is close to my forecast. I will update my forecast/valuation model on Saturday morning. I hope to finish the newsletter over the weekend and publish it on Monday, no later than Tuesday. Operations In the Eagle Ford, we continue to deliv...

Highlights Generated production of 154,194 boe/d (85% oil and NGL) in Q2/2024, up 2% from Q1/2024. Crude oil production (light oil, condensate, and heavy oil) increased 4% from Q1/2024 to average 110,734 bbl/d. < Compares to my Q2 forecast of 153,000 Boepd, including 109,395 bpd of oil. Increased pr...

On August 2nd, Harry van Neck, who posts to the EPG Forum as “Petroleum Economist,” is going to join me on a webinar at 10AM CT. He is going to explain his methodology for ranking upstream oil & gas companies. < Register for the live event on the EPG website. Harry has over 41 years of experienc...

OPERATIONAL HIGHLIGHTS Average production in second quarter 2024 was 192,648 boe/d, comprised of approximately 65 percent oil and liquids. The Company continued to demonstrate the strength of its operational execution in the Alberta Montney, delivering the top four oil and liquids producing wells in...

At the time of this post VRN was trading for $7.53US. TipRanks: "In the last 3 months, 6 ranked analysts set 12-month price targets for VRN. The average price target among the analysts is $10.50US. The 6 price targets range from $9.41 to $11.58," < Only two of the energy sector analysts ha...

At the time of this post PR was trading at $15.07. TipRanks: "In the last 3 months, 12 ranked analysts set 12-month price targets for PR. The average price target among the analysts is $20.67. The 12 price targets range from $17 to $23, with the most recent price target from Piper Sandler of $2...

If Permian Resources does make a deal with OXY, it will be a good deal for PR shareholders. PR+ESTE has an outstanding team that will not overpay for acquisitions. Permian Resources (PR) is expected to announce Q2 financial results on August 6. I expect them to announce Adjusted Net Income that exce...

EQT closed today at $34.38. I have updated my forecast/valuation model for Q2 actual results and their updated guidance. My valuation of EQT is reduced by $5 to $43 per share , primarily due to lower than expected Q2 results and lower forecast realized natural gas prices in 2H 2024 and 2025. I have ...

Working gas in storage was 3,231 Bcf as of Friday, July 19, 2024, according to EIA estimates. This represents a net increase of 22 Bcf from the previous week. < 11 Bcf below the 5-year average. Stocks were 249 Bcf higher than last year at this time and 456 Bcf above the five-year average of 2,775 Bc...