Once again we are preparing to see the Kansas City Chiefs take on the San Francisco 49ers next Sunday. It was only 4 years ago where we saw the same matchup in Miami when fragile Jimmy G and the Niners had the lead with less than 3 minutes to go but Patrick Mahomes led the Chiefs […]
There is really big news in the midstream space. Yesterday, Sunoco LP and NuStar Energy L.P. announced that the parties have entered into a definitive agreement whereby Sunoco will acquire NuStar in an all-equity transaction valued at approximately $7.3 billion. About 12 years ago, Sunoco sold off the last of its refineries and essentially self-liquidated into a […]
New Year…..same shizzle? Lil bit…not xactly. When the US Shale boom first ignited in the last decade, production growth was driving the bus and capital discipline was a big joke. Fast forward to today. The year 2023 saw the U.S. hit a record crude oil production level of over 13.2 million barrels per day—more than any other country […]
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Happy New Year! Time to tie those shoelaces, straighten your backs and get back to business. If you’re like us, you’re extremely excited about the possibilities that the New Year will bring. To that end, if you have any storage ideas germinating, we’re here to assist you – at no charge. U.S. crude oil closed out the year more […]
Once again, an activist investor (in other words: a bully with a bag of money), has appeared on the scene to disrupt the enterprise of a long standing integrated refining and marketing company. Last week, Elliott Investment Management unveiled a $1 billion stake in Phillips 66 and chirped about the company’s supposed underperformance. Their all too familiar strategy […]
Did you ever pour yourself an ice cold beer? Once it hits your lips, it’s so good. However sometimes you have to wait until the foam settles. Too much foam. Beer good. Foam bad. So much foam. Remember the episode of Seinfeld when everyone agreed that muffin tops were awesome but that the muffin stumps weren’t so great. Elaine spends the show trying […]
The energy industry was certainly served a platter of trick or treat this month with a couple of colossal mergers in the oil patch. First, ExxonMobil and Pioneer Natural Resources jointly announced a definitive agreement for ExxonMobil to acquire Pioneer. The merger is an all-stock transaction valued at $59.5 billion. Next, Chevron said “hold my beer” and last […]
Who remembers the old Priceline commercials? William Shatner, with his compelling narrative, would tell us all about how we can get hotel rooms and air transportation at whatever price we wanted. All we had to do was name our price. We could go as low as we wanted, and no one would know what a cheapskate you were […]
What happens when you take precariously low oil inventories, pile on production cuts from two of the world’s largest producers, continue an ongoing war on the Russian front and mix in a war about to happen in the Middle East? One would think that oil prices would go to the moon, right? In actuality, it seems that […]
It is impossible to contextualize the horror and tragedy of the terrorist attacks in the Middle East over the weekend. Although sanity and reason tend to normalize our moral compass, history tells us that the fabric of our being contains unsettling forces that has led to bloodshed and war over and over again for the past […]
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Tank Talk
