Notable quotes from conf calls

[Fraser921]

MNRL

With respect to the macro, I believe the recent relative weakness improved to be short in duration, and that over the remainder of 2022, we will see a solidification of the oil macro environment. In fact, the performance of crude prices remarkable, given the magnitude of volumes released from the SPR, which are temporary, and which, for the sake of national security, will require refilling. As I've said before, and my view has not changed, we are in the midst of the early stages of an energy super cycle, exceptional, both for its amplitude, and duration. In fact, we recently sought confirmation from the Saudis that they lack meaningful spare capacity, and that it could take until 2027 for them to add one million barrels of the incremental capacity. Here in the US, energy companies remain constrained by supply chain constraints, including sand equipment and people, and a continued focus by public companies to deliver on investor demand to return capital. We also continue to see the US DUC inventory dwindle, albeit at a slower pace, thereby further limiting the industry's ability to meaningfully ramp up supply. This is particularly true outside the Permian, given that many of the domestic basins can only deliver limited growth. As a result, much of the required production growth will come from the Permian, where, as evidenced by our strong performance, Brigham Minerals enjoys superior assets.

[dan_s]

The senior management at MNRL is "seasoned" (about as old as I am) and they are well aware of how tight the global oil market is. Plus, they have a team that knows how to evaluate and acquire assets with a lot of upside.