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by dan_s
Thu Mar 28, 2024 6:24 pm
Forum: Other topics of interest
Topic: Update on the Trans Mountain Pipeline - Mar 28
Replies: 0
Views: 6

Update on the Trans Mountain Pipeline - Mar 28

A high percentage of the 890,000 barrels of crude oil per day will be shipped to California. Most of it will end up going to the Marathon Oil Refinery in Los Angeles. I bet the Climate Change Wackos in Hollywood will love this news. A new market for Canadian oil – in Hollywood? The Trans Mountain Pi...
by dan_s
Thu Mar 28, 2024 5:44 pm
Forum: The View from Houston
Topic: Today's EPG Luncheon in Houston - Mar 28
Replies: 0
Views: 10

Today's EPG Luncheon in Houston - Mar 28

Matt Iak, EVP with U.S. Energy Development Corp. (USEDC) made an outstanding presentation. We will post the slides that he spoke from to the EPG website. Matt and I have been on several panel discussions together at conferences and webinars together. He is an expert on the oil & gas industry. We...
by dan_s
Thu Mar 28, 2024 5:25 pm
Forum: Sweet 16 Portfolio
Topic: SilverBow Resources (SBOW) Valuation Update - Mar 28
Replies: 1
Views: 10

Re: SilverBow Resources (SBOW) Valuation Update - Mar 28

My guess is that Kimmeridge will not make an all-cash offer for SBOW that is anywhere close to my valuation of $58.00/share. I just don't think they have access to that kind of cash. This process has drawn attention to SBOW, which is a good thing. They are going to report a big increase in productio...
by dan_s
Thu Mar 28, 2024 5:21 pm
Forum: Sweet 16 Portfolio
Topic: SilverBow Resources (SBOW) Valuation Update - Mar 28
Replies: 1
Views: 10

SilverBow Resources (SBOW) Valuation Update - Mar 28

My current valuation of SBOW is $58.00, which compares to the PV10 Net Asset Value of $66.39/share < Based only on Proved Reserves per their 3rd party reviewed reserve report. Proved reserves as of December 31, 2023 which includes the assets acquired from Chesapeake on November 30, 2023 94,958,000 b...
by dan_s
Thu Mar 28, 2024 4:53 pm
Forum: Sweet 16 Portfolio
Topic: SilverBow Resources (SBOW) Update - Mar 28
Replies: 3
Views: 118

Re: SilverBow Resources (SBOW) Update - Mar 28

HOUSTON--(BUSINESS WIRE)-- SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or the “Company”) today filed its preliminary proxy statement with the U.S. Securities and Exchange Commission in connection with the Company’s 2024 annual meeting of shareholders (the “2024 Annual Meeting”). Also in conn...
by dan_s
Thu Mar 28, 2024 4:51 pm
Forum: Sweet 16 Portfolio
Topic: Vital Energy (VTLE) Valuation Update - Feb 22
Replies: 2
Views: 185

Re: Vital Energy (VTLE) Valuation Update - Feb 22

Possible, but PR is primarily interested in the Delaware Basin and Vital gets most of its revenues from the Midland Basin.
by dan_s
Thu Mar 28, 2024 9:36 am
Forum: The View from Houston
Topic: EIA Natural Gas Storage Report - Mar 28
Replies: 0
Views: 57

EIA Natural Gas Storage Report - Mar 28

Working gas in storage was 2,296 Bcf as of Friday, March 22, 2024, according to EIA estimates. This represents a net decrease of 36 Bcf from the previous week. Stocks were 430 Bcf higher than last year at this time and 669 Bcf above the five-year average of 1,627 Bcf. At 2,296 Bcf, total working gas...
by dan_s
Thu Mar 28, 2024 9:31 am
Forum: Sweet 16 Portfolio
Topic: SilverBow Resources (SBOW) Update - Mar 28
Replies: 3
Views: 118

SilverBow Resources (SBOW) Update - Mar 28

March 28 (Reuters) - SilverBow Resources said on Thursday it has rejected largest shareholder Kimmeridge Energy Management's latest offer that valued the oil and gas producer at $2.1 billion, including debt, in another rebuff of the asset manager's efforts. Kimmeridge, in its attempt to acquire the ...
by dan_s
Wed Mar 27, 2024 6:46 pm
Forum: The View from Houston
Topic: Gassers moving up-Huh?
Replies: 2
Views: 114

Re: Gassers moving up-Huh?

Some money managers are looking at the NYMEX strip: JUL24 closed today at $2.30 and DEC24 to MAR25 are now firmly over $3.00. FEB25 closed at $3.51 today. Just remember that the NYMEX strip is not a forecast. I would advise EQT and RRC to hedge as much Q4 2024 and Q1 2025 gas at the current strip as...
by dan_s
Wed Mar 27, 2024 1:37 pm
Forum: Picks and tips from the EP community
Topic: ONEOK Inc. (OKE) Valuation Update - Mar 27
Replies: 0
Views: 53

ONEOK Inc. (OKE) Valuation Update - Mar 27

I have finished my review of our updated profile on ONEOK (OKE), one of the large-cap midstream companies in our High Yield Income Portfolio. I rate it A++ for safety of the dividend, with 99% confidence that they will raise dividends year-after-year. The recent merger with Magellan Midstream Partne...