Sweet 16 Update - May 5

[dan_s]

After getting crushed on Thursday, the Sweet 16 rebounded on Friday and was actually up slightly for the week. If you believe OPEC is going to extend their production agreement then now is the time to load up on high quality upstream companies like the Sweet 16.

As you can tell, I am doing my best to catch up with all of the first quarter results. Information is coming at me like water out of a fire hose. So far, all of the Sweet 16 have reported strong Q1 results and several have been much better than my forecasts.

I hope to publish a new "The View From Houston" newsletter on Monday. I will be working all day Saturday. I need to finish updates on RSP Permian and PDC Energy before I can start on the newsletter.

I am going to feature Range Resources (RRC) in an article for OilPrice.com next week. Most of the Wall Street Gang has not figured out how tight the U.S. gas market is going to be in a few months, but they will eventually. When you have a chance, take a look at the NYMEX strip for ngas contracts.