Energy Prospectus

dan_s

BlazeMedia: 5 truths the climate cult can’t bury any more by Dan Doyle December 05, 2025 The cult's ‘green future’ runs on diesel, coal, and lies — and every blackout, bailout, and broken promise exposes the con. “Peak oil” isn’t real. “Energy transition” isn’t happening. And the people claiming ot...

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Trading Economics Copper futures in the US slipped to around $5.30 per pound, retreating from four-month highs as investors weighed demand uncertainties from top consumer China. The nation's top leaders signaled that boosting domestic demand will be a priority in 2026, while taking a measured approa...

dan_s

Our next Houston luncheon is set for January 13th at Maggiano's on Post Oak Blvd. The CEO of Mundoro Capital, Teo Dechev will make a presentation about how bullish the copper mining sector potential is under the Trump Administration. Teo is one of the smartest women I've ever met. She is an expert o...

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My updated forecast model has been posted to the EPG website.

InPlay is a "Top Pick" in our High Yield Income Portfolio.

dan_s

Based on the new information that I got at today's EPG luncheon I have updated my forecast valuation model for IPO.TO. Only a few minor adjustments needed to be made be made. I have a HIGH level of confidence in my model. IPO.TO closed at $12.88Cdn today, up 31% YTD . < My current valuation stays at...

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Below is a note from HFI Research. There are "Market Forces" (including IEA) that want oil prices and inflation low for as long as possible, so that the Fed will keep lowering interest rates. I am short-term bearish on crude oil prices, but long-term bullish because low oil prices will eve...

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Antero's Slides: https://d1io3yog0oux5.cloudfront.net/_47848ae6de2609162abd0c61a6eea4ce/anteroresources/db/732/7807/pdf/Strategic+Transactions+12.08.2025+vF.pdf

See bottom of slide 4

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Trading Economics WTI Oil WTI crude oil futures traded around $59 per barrel on Tuesday after sliding 2% in the previous session, as expectations of a supply glut outweighed geopolitical risks. < This is the most advertised "Supply Glut" outside of a worldwide pandemic . > Investors are no...

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IPOOF is trading was trading at $9.30US when this was posted. < Up 34% YTD Based on 2 Wall Street analysts offering 12 month price targets for InPlay Oil Corp. in the last 3 months. The average price target is $11.99US with a high forecast of $13.13 and a low forecast of $10.85. The average price ta...

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Notes below are from HFI Research This morning, Antero Resources (AR) announced that it would acquire HG Energy, a privately held E&P with operations contiguous to AR’s core in West Virginia. AR is paying $2.8 billion for the assets, while divesting its non-core Ohio Utica assets for $800 millio...

dan_s

Watch this forecast > https://www.youtube.com/watch?v=njYha8OFfXE

Very low temperatures and wind chill will hit Appalachia (Ohio. PA and WV) this coming weekend (Dec 13 & 14)

dan_s

To get a better understanding of the impact to NOG of the Ohio Utica Shale Asset acquisition go through the slides at this link: https://noginc.com/investor-relations/events-and-presentations/default.aspx Infinity Natural Resources, Inc. (INR) will be the operator of the acquired assets. Neal Dingma...

dan_s

The updated profile and my updated forecast/valuation model for Viper Energy has been updated on the EPG website. You can find them under the High Yield Tab. Viper has a lot of things going for it, but #1 by a wide margin is the company's relationship with Diamondback Energy (FANG). Yesterday I spen...

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There will be big daily swings in the U.S. natural gas futures market. JAN26 is the gas price you see. The U.S. natural gas market is going to go from a surplus to a deficit to the 5-year average very soon. Hang tough and keep in mind that my forecast/valuation models are based on HH natural gas av...

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HIGHLIGHTS NOG to partner with Infinity Natural Resources (“Infinity”) to purchase the Ohio Utica assets (the “Utica Assets”) of Antero Resources Corporation and Antero Midstream Corporation (collectively, “Antero”) , for a combined unadjusted purchase price of $1.2 billion in cash (the “Purchase Pr...

dan_s

For NOG this deal adds a lot of high-quality "Running Room" in one of America's most valuable natural gas plays. ------------------------ Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced that it has entered into a definitive agreement to acquire a 49% stake ...

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As of 30 November 2025, EU natural gas storage levels had fallen to 75.35%, compared with 82.8% at the end of October, reflecting the intense start to the 2025–2026 heating season (which usually begins in late October). At this point, inventories now sit below the five-year average . Here's the good...

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Crescent has announced six asset sales exceeding $900 million year-to-date. The Company has recently closed its previously announced conventional Rockies and Barnett divestitures and expects the remainder of its announced non-core asset sales to close before year-end. Proceeds from these transaction...

dan_s

84 years ago in 1941, Japan attacked the U.S. navy base at Pearl Harbor, Hawaii getting America into World War II. Shortly after the war started my father at the age of 16 took a job on a truck assembly line in St. Louis. At the age of 18 he joined the navy. In less than a year the war was over. His...

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EPG members are invited to attend a luncheon on Wednesday, December 10 in Dallas at Ocean Prime. This luncheon is also open to non-members, so invite a friend to join you. Luncheon: 12 Noon Ocean Prime 2101 Cedar Springs Rd. Dallas, TX 75201 Register here > contact@goalcapital.net and just tell Dann...

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Based on the current CelsiusEnergy forecast at this link: https://www.celsiusenergy.net/ on December 26th the surplus to the 5-year average will be down to 11 Bcf. So, my WAG a month ago that the 5-year surplus would be wiped out by year-end is now looking like a good guess. My new WAG is that Ngas ...

dan_s

Propane price up 14.8% in the month, which is very good news for AR, EQT and RRC.

CRGY + VTLE merger and SM + CIVI merger look much better with higher natural gas and NGL prices. CRGY and SM still trade at less than 50% of my valuations.

dan_s

I see that the JAN26 NYMEX futures contract closed at $5.337/MMBtu on Friday. This is all weather driven as Miss La Nina is going to send several major winter storms through the Great Lake region, which is the area that draws the most natural gas from storage for space heating. Also, look for well f...

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If Russian or Venezuelan oil exports are curtailed in 2026, oil price will rise.

dan_s

Articles by Dr. Anas Alhajji that debunk the IEA's False Paradigm Related Links: Oil Inventories Flash Red: Crude, Gasoline, Distillates – All Critically Low Brazil Shatters Crude Export Records in October: A Short Note The Hype of Oil on Water Oil Market Update: Debunking the Bearish Narrative US C...

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Addressing The Elephant In The Room - Where The Hell Is The Oil Surplus? HFI Research on December 5 Q4 2025 is coming to a close soon, and there’s one thing all oil market participants must acknowledge: this quarter was not as oversupplied as initially thought. As a matter of fact, and let me be blu...

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I emailed you the slide deck that Don spoke from. It should also be available on the Hemisphere website.

We are in Nassau today, so I will be out until late this afternoon.

dan_s

A cold start to winter and record liquefied natural gas (LNG) flows have helped drive a strong rally in prices since mid-October, said analysts at Morgan Stanley, seeing further upside ahead. At 08:55 ET (13:55 GMT), natural gas prices fell 0.5% to $4.968 per million British thermal units, or MMBtu,...

dan_s

My current valuation of REPX is $42/share.

With improved balance sheet, my valuation multiple should increase.

dan_s

Working gas in storage was 3,923 Bcf as of Friday, November 28, 2025, according to EIA estimates. This represents a net decrease of 12 Bcf from the previous week. < At least the next three weekly draws will be triple digits. Stocks were 18 Bcf less than last year at this time and 191 Bcf above the f...

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https://www.msn.com/en-us/money/markets/the-international-energy-agency-gets-realistic/ar-AA1REHPH

dan_s

I was not able to attend the luncheon. All I know is that there has yet to be any response from the polymer flood at Marsden. Send me an email and I will send you the slide deck that Don Simmons spoke from on Tuesday.

dmsteffens@comcast.net

dan_s

Doug Bartole, InPlay's CEO will be speaking at our Houston luncheon on Tuesday, December 9th. I will be opening with an update on my view of the oil & gas markets. You can register for the luncheon on the EPG website and guests are welcome to attend. Just email Sabrina at energyprospectus@gmail....

dan_s

The NYMEX front-month natural gas contract is testing $5.00/MMBtu as weather forecasts point to the highest December heating demand in 15 years. After maintaining a triple-digit storage surplus to five-year normals since May, natural gas inventories may plunge to a triple-digit deficit to open Janua...

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WTI oil futures rose to $59.10 per barrel on Wednesday, as attacks on Russian energy assets weighed against the lingering view of an oversupplied market. Risk on the supply of Russian oil and fuel prevailed after strikes on Russian tankers and oil refineries, with the Kremlin threatening retaliation...

dan_s

If you can find the "GLUT" of oil in this week's report, please let me know. Summary of Weekly Petroleum Data for the week ending November 28, 2025 U.S. crude oil refinery inputs averaged 16.9 million barrels per day during the week ending November 28, 2025, which was 433 thousand barrels...

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See how large the draws from storage are expected to be here > https://www.celsiusenergy.net/

Each time I check this website the estimated draws increase.

Hang on to your Gassers!

dan_s

https://nypost.com/2025/12/01/us-news/northeast-set-to-be-blasted-by-most-extreme-cold-on-earth-before-christmas/?utm_campaign=iphone_nyp&utm_source=mail_app

dan_s

US natural gas futures climbed above $4.85/MMBtu at the start of December, the highest level in three years, and extending a more than 15% gain for November. Cold weather continues to boost demand, with intense cold expected across the Northeast and Great Lakes from December 3–7. Forecasts also poin...

dan_s

The perception of a glut is already so pervasive that there seems to be few who question it. Not only this, but the glut keeps getting revised higher and higher. Per the International Energy Agency’s latest, the supply overhang in crude oil could top the record-smashing 4 million barrels daily next ...

dan_s

Watch the Saturday Summary here: https://www.weatherbell.com/premium/ All of his forecasting tools now say that the entire month of December will stay much colder than normal AND he thinks it will stay colder than normal in January. EIA's natural gas storage report will show a big draw for the week ...

dan_s

On the morning of November 29th CelsiusEnergy's forecast is that draws from storage during the four weeks ending December 19 will total 427 Bcf, which will reduce the natural gas storage surplus by 89 Bcf to 71 Bcf. I expect the storage surplus to be gone early in January. 2026 is going to be a very...

dan_s

One AI Data Center has already sign a gas supply contract with Pine Cliff Energy . The Data Center will be built in one of Pine Cliff's gas fields. Pine Cliff is hoping to get more supply contracts with AI Data Centers. --------------------------- News from Calgary: Alberta bill to prioritize AI dat...

dan_s

I hope all of you had a Happy Thanksgiving. I spent about 2 hours yesterday putting up Christmas decorations and then 4 hours yesterday finishing my November weather. Susan then allowed me to "take off early" so that I could watch the Dallas Cowboys beat the Kansas City Chief. I am not a C...

dan_s

and a second winter storm coming the middle of the week.

This is VERY BULLISH for natural gas demand: https://www.youtube.com/watch?v=czGY3YLbGvU

dan_s

BTE.TO is trading at $4.53Cdn this morning, just below my current valuation of $4.60Cdn. My valuation is based on just 4X annualized operating cash flow per share. Once the sale closes and Baytex provides more detailed guidance, my valuation multiple will increase if their guidance confirms my mode...

dan_s

"Despite the increases in crude and products inventories, US inventories remain low, with crude and distillate inventories near the bottom of the 5-year range while gasoline inventories remain below the 5-year range. Cushing inventories are near the minimum operating level (tanks are empty) . ...

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Comments below are from Keith Kohl: Looking at the macro picture, Diamondback’s CEO told us that the company has hit a holding pattern. In other words, the goal for the company right now is to keep its oil volumes relatively flat, and seek to grow its per share metrics through a reduced share count;...

dan_s

Base on this 10-Day forecast > https://weather.com/maps/tendayforecast We could see well freeze offs in the Williston Basin in North Dakota, the Powder River Basin in Wyoming, the DJ Basin in Colorado, and Appalachia in Ohio & Pennsylvania in a few days. If natural gas production is shut-in for ...

dan_s

Working gas in storage was 3,935 Bcf as of Friday, November 21, 2025, according to EIA estimates. This represents a net decrease of 11 Bcf from the previous week. Stocks were 32 Bcf less than last year at this time and 160 Bcf above the five-year average of 3,775 Bcf. At 3,935 Bcf, total working gas...

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